<SEC-DOCUMENT>0001104659-23-108622.txt : 20231012
<SEC-HEADER>0001104659-23-108622.hdr.sgml : 20231012
<ACCEPTANCE-DATETIME>20231011183319
ACCESSION NUMBER:		0001104659-23-108622
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20231011
FILED AS OF DATE:		20231012
DATE AS OF CHANGE:		20231011

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DENISON MINES CORP.
		CENTRAL INDEX KEY:			0001063259
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33414
		FILM NUMBER:		231321489

	BUSINESS ADDRESS:	
		STREET 1:		40 UNIVERSITY AVE., SUITE 1100
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 1T1
		BUSINESS PHONE:		(416) 979-1991

	MAIL ADDRESS:	
		STREET 1:		40 UNIVERSITY AVE., SUITE 1100
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 1T1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL URANIUM CORP
		DATE OF NAME CHANGE:	19980603
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2327329d2_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date:</B></FONT><B>
October&nbsp;11, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number:&nbsp; <B>001-33414</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Denison Mines
Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<I>Name of registrant</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1100-40 University
Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Toronto, Ontario</B></P>

<P STYLE="border-bottom: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>M5J
1T1 Canada</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Address of
principal executive offices)</I></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;20-F</TD>
    <TD STYLE="width: 25%; text-align: center"><FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F</TD>
    <TD STYLE="width: 25%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INCORPORATION BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exhibits 99.1 to this report on Form&nbsp;6-K
furnished to the SEC is expressly incorporated by reference into the Registration Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1063259/000110465921107771/tm2124993-3_f10.htm" STYLE="-sec-extract: exhibit">Form&nbsp;F-10 of Denison Mines Corp. (File No.&nbsp;333-258939)</A>, as amended and supplemented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>Denison Mines Corp.</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="4">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:&nbsp;October&nbsp;11, 2023</FONT></TD>
    <TD STYLE="border-bottom: white 3pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;/s/ Amanda Willett</I></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amanda Willett</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice President Legal and Corporate Secretary</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&nbsp;6-K Exhibit&nbsp;Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="border-bottom: black 1pt solid; width: 8%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit<BR>
Number</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Document Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; text-align: center"><A HREF="tm2327329d2_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="padding-top: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt"><A HREF="tm2327329d2_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting Agreement dated October&nbsp;11, 2023. </FONT></A></TD></TR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2327329d2_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDERWRITING AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">October&nbsp;11, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Denison Mines Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">40 University Avenue, Suite&nbsp;1100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, Ontario</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Canada M5J 1T1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10%">Attention:</TD><TD STYLE="width: 90%">Mr.&nbsp;David Cates<BR>
<U>President and Chief Executive Officer</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sirs/Mesdames:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cantor
Fitzgerald Canada Corporation (&ldquo;<B>CFCC</B>&rdquo; or, the &ldquo;<B>Lead Underwriter</B>&rdquo;), as sole bookrunner and lead underwriter,
along with </FONT>Canaccord Genuity Corp., Haywood Securities Inc., Raymond James Ltd., BMO Nesbitt Burns Inc., Scotia Capital Inc., Cormark
Securities Inc., and SCP Resource Finance LP (collectively with the Lead Underwriter, the <B>&ldquo;Underwriters</B>&rdquo; and each individually
an &ldquo;<B>Underwriter</B>&rdquo;), hereby severally, and not jointly nor jointly and severally, offer to purchase from Denison Mines
Corp. (the &ldquo;<B>Company</B>&rdquo;) in the respective percentages set forth in Section&nbsp;18 hereof, and the Company hereby agrees
to issue and sell to the Underwriters, upon and subject to the terms hereof, an aggregate of 37,000,000 common shares of the Company (the
 &ldquo;<B>Firm Shares</B>&rdquo;) on an underwritten basis at a price of $1.49 per Firm Share (the &ldquo;<B>Offering Price</B>&rdquo;)
for an aggregate purchase price of $55,130,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
and subject to the terms and conditions contained herein, the Company hereby grants to the Underwriters an option (the &ldquo;</FONT><B>Over-Allotment
Option</B>&rdquo;) to purchase severally, and not jointly nor jointly and severally, in the respective percentages set forth in Section&nbsp;18
hereof, up to an additional 5,550,000 common shares of the Company (the &ldquo;<B>Additional Shares</B>&rdquo;) at a price of $1.49 per
Additional Share for the purposes of covering over-allotments and for market stabilization purposes. The Over-Allotment Option may be
exercised in accordance with Section&nbsp;6(3) hereof. The Firm Shares and the Additional Shares are collectively referred to herein as
the &ldquo;<B>Offered Shares</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
Company and the Underwriters agree that (i)&nbsp;any offers or sales of the Offered Shares in Canada will be conducted through the Underwriters,
or one or more affiliates of the Underwriters, duly registered in compliance with applicable Canadian Securities Laws (as hereinafter
defined); and (ii)&nbsp;any offers or sales of the Offered Shares in the United States will be conducted through the Underwriters, or
one or more affiliates of the Underwriters, duly registered as a broker-dealer in compliance with applicable U.S. Securities Laws (as
hereinafter defined) and the requirements of </FONT>FINRA (as hereinafter defined).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In
consideration of the agreement on the part of the Underwriters to purchase the Offered Shares and in consideration of the services rendered
and to be rendered by the Underwriters hereunder, the Company agrees to pay to CFCC on behalf of the Underwriters, at the Closing Time
(as hereinafter defined), and at the Option Closing Time (as hereinafter defined), if any, a cash fee equal to 4.75% of the aggregate
gross proceeds of the Offering (the &ldquo;</FONT><B>Underwriting Fee</B>&rdquo;), the payment of such fee to be reflected by the Underwriters
making payment of the gross proceeds of the sale of the Firm Shares or the Additional Shares, as the case may be, to the Company less
the amount of the Underwriting Fee and all fees, disbursements and expenses incurred by the Underwriters in accordance with the provisions
in Section&nbsp;16 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement shall be subject
to the following terms and conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TERMS AND CONDITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Interpretation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B><I>Definitions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Where used in this Agreement
or in any amendment hereto, the following terms shall have the following meanings, respectively:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Additional
Shares</B>&rdquo; has the meaning given to it in the second paragraph of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>affiliate</B>&rdquo;
has the meaning given to it in the <I>Business Corporations Act (Ontario)</I>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Agreement</B>&rdquo;
means the agreement resulting from the acceptance by the Company of the offer made by the Underwriters by this agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>APG</B>&rdquo; means Ecora
Resources PLC, formerly named Anglo Pacific Group PLC;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>APG Loan</B>&rdquo; means
the $43.5 million lending and streaming arrangement between the Company&rsquo;s subsidiaries, DMI and 937321 Canada Inc. with APG and
its wholly-owned subsidiary Centaurus Royalties Ltd.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Applicable
Laws</B>&rdquo; means, in relation to any person or persons, the Applicable Securities Laws and all other statutes, regulations, rules,
orders, by-laws, codes, ordinances, decrees, the terms and conditions of any grant of approval, permission, authority or licence, or any
judgment, order, decision, ruling, award, policy or guidance document, of any Governmental Authority that are applicable to such person
or persons or its or their business, undertaking, property or securities and emanate from a Governmental Authority, having jurisdiction
over the person or persons or its or their business, undertaking, property or securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Applicable
Securities Laws</B>&rdquo; means the Canadian Securities Laws and the U.S. Securities Laws;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Applicable Time</B>&rdquo;
has the meaning given to it in Section&nbsp;2(7);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Business
Day</B>&rdquo; means any day, other than a Saturday or Sunday, on which banks are open for business in Vancouver, British Columbia, Toronto,
Ontario and New York, New York;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Canadian
Commissions</B>&rdquo; means the securities regulatory authorities in each of the Qualifying Jurisdictions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Canadian
Final Base Prospectus</B>&rdquo; has the meaning given to it in Section&nbsp;2(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Canadian
Offering Documents</B>&rdquo; has the meaning given to it in Section&nbsp;5(1)(c);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Canadian
Preliminary Base Prospectus</B>&rdquo; has the meaning given to it in Section&nbsp;2(1);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Canadian
Preliminary Prospectus Supplement</B>&rdquo; has the meaning given to it in Section&nbsp;2(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Canadian Prospectus</B>&rdquo;
has the meaning given to it in Section&nbsp;2(3)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Canadian Prospectus Supplement</B>&rdquo;
has the meaning given to it in Section&nbsp;2(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Canadian
Securities Laws</B>&rdquo; means all applicable securities laws of each of the Qualifying Jurisdictions and the respective rules&nbsp;and
regulations under such laws together with applicable published national, multilateral and local policy statements, instruments, notices,
blanket orders and rulings of the securities regulatory authorities in the Qualifying Jurisdictions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>CDS</B>&rdquo;
means the CDS Clearing and Depository Services Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>CF US</B>&rdquo; has the meaning
given to it in Section&nbsp;8;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>CFCC</B>&rdquo; means Cantor
Fitzgerald Corporation Canada;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Claim</B>&rdquo; has the meaning
given to it in Section&nbsp;10(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Closing
Date</B>&rdquo; has the meaning given to it in Section&nbsp;6(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Closing
Time</B>&rdquo; has the meaning given to it in Section&nbsp;6(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Code</B>&rdquo; has the meaning
given to it in Section&nbsp;8(ddd);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Commission</B>&rdquo;
means the Ontario Securities Commission;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Common
Shares</B>&rdquo; means the common shares in the capital of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Company</B>&rdquo;
means Denison Mines Corp.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Corporate Records</B>&rdquo;
has the meaning given to it in Section&nbsp;8(w);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Defaulting
Underwriter&rdquo; </B>has the meaning given to it in Section&nbsp;18(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Distribution</B>&rdquo;
means &ldquo;distribution&rdquo; or &ldquo;distribution to the public&rdquo; as those terms are defined in the Applicable Securities Laws;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Distribution Agreement</B>&rdquo;
has the meaning given to it in Section&nbsp;8(sss);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>DMI</B>&rdquo; means Denison
Mines Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Effective
Date</B>&rdquo; has the meaning given to it in Section&nbsp;2(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Entity</B>&rdquo; has the
meaning given to it in Section&nbsp;8(mmm);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&rdquo;<B>Employee Plans</B>&rdquo;
has the meaning given in Section&nbsp;8(yy)(iii);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Environmental Laws</B>&rdquo;
has the meaning given in Section&nbsp;8(ggg)(i);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Environmental Permits</B>&rdquo;
has the meaning given in Section&nbsp;8(ggg)(ii);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Exchanges</B>&rdquo; means,
collectively, the TSX and NYSE American;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Evaluation
Date</B>&rdquo; has the meaning given to it in Section&nbsp;8(y).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Exchange
Act</B>&rdquo; has the meaning given to it in Section&nbsp;2(9);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Financial Statements</B>&rdquo;
has the meaning given to it in Section&nbsp;8(s);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>FINRA</B>&rdquo; means the
Financial Industry Regulatory Authority,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Firm
Shares</B>&rdquo; has the meaning given to it in the first paragraph of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Form&nbsp;F-X</B>&rdquo;
has the meaning given to it in Section&nbsp;2(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Governmental
Authority</B>&rdquo; means and includes, without limitation, any national, federal, provincial, state or municipal government or other
political subdivision of any of the foregoing, any entity exercising executive, legislative, judicial, regulatory or administrative functions
of or pertaining to government and any corporation or other entity owned or controlled (through stock or capital ownership or otherwise)
by any of the foregoing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Hazardous
Substances</B>&rdquo; has the meaning given to it in Section&nbsp;8(ggg)(i);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>IFRS</B>&rdquo; has the meaning
given to it in Section&nbsp;8(s);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Incorporated Documents</B>&rdquo;
has the meaning given to it in Section&nbsp;2(8);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Indemnified
Party</B>&rdquo; has the meaning given to it in Section&nbsp;1(1);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Indemnifying
Party</B>&rdquo; has the meaning given to it in Section&nbsp;1(1);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Intellectual
Property</B>&rdquo; has the meaning given to in Section&nbsp;8(nn);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Issuer
Free Writing Prospectus</B>&rdquo; means an &ldquo;issuer free writing prospectus&rdquo; as defined in Rule&nbsp;433 under the Securities
Act relating to the Offered Shares that (i)&nbsp;is required to be filed with the SEC by the Company, (ii)&nbsp;is a &ldquo;road show
that is a written communication&rdquo; within the meaning of Rule&nbsp;433(d)(8)(i)&nbsp;under the Securities Act whether or not required
to be filed with the SEC or (iii)&nbsp;is exempt from filing pursuant to Rule&nbsp;433(d)(5)(i)&nbsp;under the Securities Act because
it contains a description of the Offered Shares or of the Offering that does not reflect the final terms, in each case in the form filed
or required to be filed with the SEC or, if not required to be filed, in the form retained in the Company&rsquo;s records pursuant to
Rule&nbsp;433(g)&nbsp;under the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>ITA</B>&rdquo;
means the <I>Income Tax Act</I> (Canada), as amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>IT Systems and Data</B>&rdquo;
meaning given to it in Section&nbsp;8(qqq);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Joint Venture Entities</B>&rdquo;
means each person or body corporate, howsoever constituted in any jurisdiction, which is an owner or operator of any of the Material Properties,
including, to the extent applicable, the Company and DMI, provided that any representation or warranty of this Company in this Agreement
relating to Joint Venture Entities other than the Company or DMI shall be deemed to be limited to only apply in respect of the Material
Properties, and &ldquo;Joint Venture Entity&rdquo; means any one of the Joint Venture Entities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>KHNP Strategic Relationship
Agreement</B>&rdquo; means the amended and restated strategic relationship agreement made as of September&nbsp;19, 2017 between the Company
and KHNP Canada Energy Ltd.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Marketing
Documents</B>&rdquo; means the marketing materials approved in accordance with Section&nbsp;4(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>marketing
materials</B>&rdquo; has the meaning given to it in NI 41-101;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Material
Adverse Effect</B>&rdquo; means any event, fact, circumstance, development, occurrence or state of affairs (i)&nbsp;that is materially
adverse to the business, assets (including intangible assets), affairs, operations, liabilities (contingent or otherwise), capital, properties,
condition (financial or otherwise) or results of operations of the Company and any of the Material Subsidiaries or Joint Venture Entities,
taken as a whole, whether or not arising in the ordinary course of business or (ii)&nbsp;that would result in any of the Offering Documents
containing a misrepresentation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Material Agreements</B>&rdquo;
mean any mortgage, note, indenture, contract, agreement (written or oral), instrument, lease or other document to which the Company, a
Subsidiary or a Joint Venture Entity is a party or by which the Company, a Subsidiary or a Joint Venture Entity or a material portion
of the assets thereof are bound which is material to the Company (on a consolidated basis), including, without limitation, the agreements
identified as &ldquo;material contracts&rdquo; in the Company&rsquo;s annual information form for the year ended December&nbsp;31, 2022;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>material change</B>&rdquo;
means a material change in or relating to the Company for the purposes of Applicable Securities Laws or any of them, or where undefined
under the Applicable Securities Laws of an Offering Jurisdiction means a change in or relating to the business, operations or capital
of the Company and its subsidiaries taken as a whole that would reasonably be expected to have a significant effect on the market price
or value of any securities of the Company and includes a decision to implement such a change made by the board of directors of the Company
or by senior management who believe that confirmation of the decision by the board of directors of the Company is probable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>material fact</B>&rdquo; means
a material fact for the purposes of Applicable Securities Laws or any of them, or where undefined under the Applicable Securities Laws
of an Offering Jurisdiction means a fact that would reasonably be expected to have a significant effect on the market price or value of
any securities of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Material Properties</B>&rdquo;
means, collectively:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Wheeler River uranium project consisting of 19 mineral claims covering an aggregate area of 11,720 hectares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Waterbury Lake project comprised of 12 contiguous claims and one separate claim covering 40,256 hectares that is owned by the Company
and the Korea Waterbury Uranium Limited Partnership, as limited partners, and Waterbury Lake Uranium corporation, as general partner,
in the Waterbury Lake Uranium Limited Partnership;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
McClean Lake project consisting of 13 mineral claims covering an aggregate area of 3,111 hectares, 4 mineral leases covering an area of
1,147 hectares, and the McClean Lake uranium processing facility; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(iv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
Midwest project consisting of 3 contiguous mineral leases covering an area of 1,426 hectares, all located in the Athabasca Basin region
of Saskatchewan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Material
Subsidiaries</B>&rdquo; has the meaning given to it in Section&nbsp;8(v);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>misrepresentation</B>&rdquo;
means a misrepresentation for the purposes of the Applicable Securities Laws of an Offering Jurisdiction or any of them, or where undefined
under the Applicable Securities Laws of an Offering Jurisdiction means: (i)&nbsp;an untrue statement of a material fact, or (ii)&nbsp;an
omission to state a material fact that is required to be stated or that is necessary to make a statement not misleading in the light of
the circumstances in which it was made;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>MI 11-202</B>&rdquo; means
Multilateral Instrument 11-102 - <I>Passport System</I>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>MJDS</B>&rdquo; has the meaning
given to it in Section&nbsp;2(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Money Laundering Laws</B>&rdquo;
has the meaning given in Section&nbsp;8(lll);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>NI 43-101</B>&rdquo; means
National Instrument 43-101 &ndash; <I>Standards of Disclosure for Mineral Projects</I>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>NI
44-101</B>&rdquo; means National Instrument 44-101 &ndash; <I>Short Form&nbsp;Prospectus Distributions</I>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>NI
44-102</B>&rdquo; means National Instrument 44-102 &ndash; <I>Shelf Distributions</I>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>NI 51-102</B>&rdquo; means
National Instrument 51-102 &ndash; <I>Continuous Disclosure Obligations</I>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>NI 52-109</B>&rdquo; means
National Instrument 52-109 - <I>Certification of Disclosure in Issuers&rsquo; Annual and Interim Filings</I>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B>NP
11-202</B>&rdquo; means </FONT>National Policy 11-202 - <I>Process for Prospectus Reviews in Multiple Jurisdictions</I>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>NYSE
American</B>&rdquo; means the NYSE American LLC;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Offered
Shares</B>&rdquo; has the meaning given to it in the second paragraph of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Offering</B>&rdquo;
means the sale of Offered Shares pursuant to this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Offering
Documents</B>&rdquo; means the Canadian Offering Documents and the U.S. Offering Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Offering
Jurisdictions</B>&rdquo; means the United States and the Qualifying Jurisdictions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Offering
Price</B>&rdquo; has the meaning given to it in the first paragraph of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Option
Closing Date</B>&rdquo; has the meaning given to it in Section&nbsp;6(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Option
Closing Time</B>&rdquo; has the meaning given to it in Section&nbsp;6(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Over-Allotment
Option</B>&rdquo; has the meaning given to it in the second paragraph of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Passport System</B>&rdquo;
has the meaning given to it in Section&nbsp;2(1);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Permits</B>&rdquo; has the
meaning given to it in Section&nbsp;8(vv)(i);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Person</B>&rdquo; has the
meaning given to it in Section&nbsp;8(ee);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Preliminary Prospectuses</B>&rdquo;
has the meaning given to it in Section&nbsp;2(5);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Principal Regulator</B>&rdquo;
has the meaning given to it in Section&nbsp;2(1);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Prospectuses</B>&rdquo; has
the meaning given to it in Section&nbsp;2(5);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Prospectus Supplements</B>&rdquo;
has the meaning given to it in Section&nbsp;2(5);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Purchasers</B>&rdquo;
means, collectively, each of the purchasers of the Offered Shares arranged by the Underwriters pursuant to the Offering;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Qualifying
Jurisdictions</B>&rdquo; means each of the provinces and territories of Canada, other than Quebec;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Registration
Statement</B>&rdquo; has the meaning given to it in Section&nbsp;2(4);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Regulation M</B>&rdquo; has
the meaning given to it in Section&nbsp;8(eee);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Reports</B>&rdquo; has the
meaning given to it in Section&nbsp;8(ww)(i);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Road Show</B>&rdquo; has the
meaning given to it in Section&nbsp;2(7);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Sanctions</B>&rdquo; has the
meaning given to it in Section&nbsp;8(mmm)(A);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>SEC</B>&rdquo;
has the meaning given to it in Section&nbsp;2(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>SEDAR+</B>&rdquo;
means the System for Electronic Document Analysis and Retrieval +;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Securities
Act</B>&rdquo; has the meaning given to it in Section&nbsp;2(2)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Selling
Firm&rdquo;</B> has the meaning given to it in Section&nbsp;3(1);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Senior Secured Credit Facility</B>&rdquo;
means the revolving term credit facility for CDN$24,000,000 established pursuant to the fourth amended and restated credit agreement dated
as of January&nbsp;30, 2015, as amended by agreements dated January&nbsp;27, 2016, January&nbsp;31, 2017, January&nbsp;19, 2018, April&nbsp;9,
2018, January&nbsp;29, 2019, January&nbsp;29, 2020, January&nbsp;14, 2021, April&nbsp;12, 2022 and December&nbsp;22, 2022 among the Company
and DMI, as borrowers, Scotia Capital as the sole and lead arranger and bookrunner, The Bank of Nova Scotia, as administrative agent and
the lending institutions from time to time parties to such agreement as lenders, as amended from time to time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Shelf
Information</B>&rdquo; has the meaning given to it in Section&nbsp;2(1);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Shelf Procedures</B>&rdquo;
has the meaning given to it in Section&nbsp;2(1);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Subsidiary</B>&rdquo;
has the meaning ascribed thereto in the Applicable Securities Laws of the Province of Ontario and includes the Material Subsidiaries,
and &ldquo;Subsidiaries&rdquo; means all of them;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Supplementary
Material</B>&rdquo; has the meaning given to it in Section&nbsp;2(6);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>template
version</B>&rdquo; has the meaning ascribed to such term in NI 41-101 and includes any revised template version of marketing materials
as contemplated by NI 41-101;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>Time of Sale Prospectus</B>&rdquo;
has the meaning given to it in Section&nbsp;2(7);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>TSX</B>&rdquo;
means the Toronto Stock Exchange;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Underwriters</B>&rdquo;
has the meaning given to it in the first paragraph of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Underwriters&rsquo;
Expenses</B>&rdquo; has the meaning given to it in Section&nbsp;16;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>Underwriting
Fee</B>&rdquo; has the meaning given to it in the fourth paragraph of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>U.S.
Amended Prospectus</B>&rdquo; means a prospectus included in any U.S. Registration Statement Amendment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>U.S. Final Base Prospectus</B>&rdquo;
has the meaning given to it in Section&nbsp;2(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>U.S.
Offering Documents</B>&rdquo; means the Registration Statement, any U.S. Registration Statement Amendment, the U.S. Preliminary Base Prospectus,
the Time of Sale Prospectus, the U.S. Prospectus, and any U.S. Amended Prospectus;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>U.S. Preliminary Base Prospectus</B>&rdquo;
has the meaning given to it in Section&nbsp;2(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>U.S. Preliminary Prospectus</B>&rdquo;
has the meaning given to it in Section&nbsp;2(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>U.S. Preliminary Prospectus
Supplement</B>&rdquo; has the meaning given to it in Section&nbsp;2(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>U.S. Prospectus</B>&rdquo;
has the meaning given to it in Section&nbsp;2(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>U.S. Prospectus Supplement</B>&rdquo;
has the meaning given to it in Section&nbsp;2(3);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>U.S.
Registration Statement Amendment</B>&rdquo; means any amendment to the Registration Statement and any post-effective amendment to the
Registration Statement filed with the SEC during the distribution of the Offered Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>U.S.
Securities Laws</B>&rdquo; has the meaning given to it in Section&nbsp;2(2);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;</FONT><B>United
States</B>&rdquo; means the United States of America, its territories and possessions, any State of the United States and the District
of Columbia;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>WLUC</B>&rdquo; means Waterbury
Lake Uranium Corp.; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B>WLULP</B>&rdquo; means Waterbury
Lake Uranium Limited Partnership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Capitalized
terms used but not defined herein have the meanings ascribed to them in the Canadian Final Base Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Any
reference in this Agreement to a Section&nbsp;or Subsection shall refer to a section or subsection of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(4)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;All
words and personal pronouns relating thereto shall be read and construed as the number and gender of the party or parties referred to
in each case required and the verb shall be construed as agreeing with the required word and/or pronoun.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(5)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Any
reference in this Agreement to &ldquo;$&rdquo; or to &ldquo;dollars&rdquo; shall refer to the lawful currency of the United States, unless
otherwise specified. &ldquo;C$&rdquo; shall refer to the lawful currency of Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(6)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
following are the schedules to this Agreement, which schedules are deemed to be a part hereof and are hereby incorporated by reference
herein:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Schedule &ldquo;A&rdquo; &ndash; List
of Material Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Schedule &ldquo;B&rdquo; &ndash; Matters
to be Addressed in the Company&rsquo;s Canadian Counsel Opinion</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Schedule &ldquo;C&rdquo; &ndash; Form&nbsp;of
Opinion to be Provided by the Company&rsquo;s U.S. Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Schedule &ldquo;D&rdquo; &ndash; Form&nbsp;of
Lock-Up Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Background and Interpretation.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The Company has prepared and filed with the securities regulatory authorities in each of the provinces and territories of Canada
a preliminary short form base shelf prospectus dated August 19, 2021 relating to the distribution of up to C$250,000,000 of common shares,
warrants, subscription receipts, debt securities, units, share purchase contracts, or any combination of such securities of the Company
(the &ldquo;<B>Shelf Securities</B>&rdquo;) pursuant to Canadian Securities Laws and in accordance with MI 11-102 and NP 11-202 (together,
the &ldquo;<B>Passport System</B>&rdquo;). Such preliminary short form base shelf prospectus relating to the distribution of the Shelf
Securities, including any documents incorporated by reference therein and any supplements or amendments thereto, is herein called the
 &ldquo;<B>Canadian Preliminary Base Prospectus</B>.&rdquo; The Company has prepared and filed the Canadian Preliminary Base Prospectus
pursuant to NI 44-101 and National Instrument 44-102 &ndash; <I>Shelf Distributions</I>, the &ldquo;<B>Shelf Procedures</B>&rdquo;. The
Ontario Securities Commission (the &ldquo;<B>Principal Regulator</B>&rdquo;) has issued a receipt for the Canadian Preliminary Base Prospectus
and the Company has satisfied the conditions in MI 11-102 to the deemed issuance of a receipt by the Canadian Commissions for the Canadian
Preliminary Base Prospectus in each of the other Qualifying Jurisdictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The Company has also prepared and filed with the United States Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;)
pursuant to the Canada/United States Multi-Jurisdictional Disclosure System adopted by the Canadian Commissions and the SEC (the &ldquo;<B>MJDS</B>&rdquo;),
a registration statement on Form F-10 (Registration No. 333-258939) under the United States Securities Act of 1933, as amended (together
with the rules and regulations promulgated thereunder, the &ldquo;<B>Securities Act</B>&rdquo;), including the Canadian Preliminary Base
Prospectus with such deletions therefrom and additions or changes thereto as are permitted or required by Form F-10 and the applicable
rules and regulations of the SEC. Such prospectus, including the documents incorporated by reference therein and any supplements or amendments
thereto, is herein called the &ldquo;<B>U.S. preliminary Base Prospectus</B>&rdquo;. The Company has also prepared and filed with the
SEC an Appointment of Agent for Service of Process and Undertaking on Form F-X at the time of the initial filing of the registration statement
on Form F-10 (the &ldquo;<B>Form F-X</B>&rdquo;). For purposes of this Agreement, &ldquo;<B>U.S. Securities Laws</B>&rdquo; means all
applicable securities laws in the United States, including without limitation, the Securities Act, the Exchange Act (as defined in Section&nbsp;2(9))
and the rules and regulations promulgated thereunder, and any applicable state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In addition, the Company (a) has prepared and filed (i) with the securities regulatory authorities in each of the provinces and
territories of Canada, a final short form base shelf prospectus dated September 16, 2021 relating to the distribution of the Shelf Securities
(including any documents incorporated therein by reference and any supplements or amendments thereto, the &ldquo;<B>Canadian Final Base
Prospectus</B>&rdquo;), pursuant to the Shelf Procedures, omitting the Shelf Information (as hereinafter defined) in accordance with the
rules and procedures set forth in NI 44-102, and (ii) with the SEC an Amendment No. 1 to the registration statement on Form F-10 (Registration
No. 333-258939) under the Securities Act, including the Canadian Final Base Prospectus with such deletions therefrom and additions thereto
as are permitted or required by Form F-10 and the applicable rules and regulations of the SEC (such prospectus included therein, including
the documents incorporated by reference therein and any supplements or amendments thereto, the &ldquo;<B>U.S. Final Base Prospectus</B>&rdquo;),
which amended registration statement on Form F-10 became effective on September 17, 2021 (the &ldquo;<B>Effective Date</B>&rdquo;) pursuant
to Rule 467(b) under the Securities Act, (iii) with the Canadian Commissions in the Qualifying Jurisdictions, in accordance with the Shelf
Procedures, a preliminary prospectus supplement dated October 10, 2023, relating to the Offered Shares, which excluded certain information
(&ldquo;<B>Canadian Preliminary Prospectus Supplement</B>&rdquo;, together with the Canadian Final Base Prospectus, and including any
documents incorporated therein by reference and the documents otherwise deemed to be incorporated by reference therein pursuant to Canadian
Securities Laws, the &ldquo;<B>Canadian Preliminary Prospectus</B>&rdquo;), and (iv) with the SEC pursuant to General Instruction II.L
of Form&nbsp;F-10, the Canadian Preliminary Prospectus Supplement, with such deletions therefrom and additions thereto as are permitted
or required by Form&nbsp;F-10 and the applicable rules and regulations of the SEC (including all documents incorporated therein by reference,
the &ldquo;<B>U.S. Preliminary Prospectus Supplement</B>, together with the U.S. Final Base Prospectus, the &ldquo;<B>U.S. Preliminary
Prospectus</B>&rdquo;), and (b) will prepare and file, as promptly as possible and in any event (i) not later than 5:00 p.m. (Toronto
time) on October 11, 2023, with the Canadian Commissions in the Qualifying Jurisdictions, in accordance with the Shelf Procedures, a prospectus
supplement setting forth the Shelf Information (including any documents incorporated therein by reference and any supplements or amendments
thereto, the &ldquo;<B>Canadian Prospectus Supplement</B>&rdquo;, and together with the Canadian Final Base Prospectus, the &ldquo;<B>Canadian
Prospectus</B>&rdquo;), and (ii) within one business day of such filing with the Canadian Commissions, with the SEC pursuant to General
Instruction II.L, of Form F-10, the Canadian Prospectus Supplement with such deletions therefrom and additions thereto as are permitted
or required by Form F-10 and the applicable rules and regulations of the SEC (including all documents incorporated by reference, the &ldquo;<B>U.S.
Prospectus Supplement</B>&rdquo;, and together with the U.S. Final Base Prospectus, the &ldquo;<B>U.S. Prospectus</B>&rdquo;). The information,
if any, included in the Canadian Prospectus Supplement that is omitted from the Canadian Final Base Prospectus for which a final receipt
has been obtained from the Canadian Commissions, but that is deemed under the Shelf Procedures to be incorporated by reference into the
Canadian Final Base Prospectus as of the date of the Canadian Prospectus Supplement, is referred to herein as the &ldquo;<B>Shelf Information</B>.&rdquo;
The Canadian Preliminary Prospectus and the U.S. Preliminary Prospectus and any other prospectus supplement to the Canadian Final Base
Prospectus and U.S. Final Base Prospectus in preliminary form that describes the Offered Shares and the Offering and is used prior to
the filing of the Prospectuses (as defined below), together with the Canadian Final Base Prospectus and U.S. Final Base Prospectus, are
collectively called the &ldquo;<B>Preliminary Prospectuses</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(4)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
registration statement on Form&nbsp;F-10, at any given time, including amendments thereto to such time, the exhibits and any schedules
thereto, at such time, and the documents incorporated by reference therein pursuant to Item&nbsp;4 of Form&nbsp;F-10, at such time, and
including the Shelf Information, is herein called the &ldquo;<B>Registration Statement</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(5)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
U.S. Prospectus and the Canadian Prospectus are hereinafter collectively sometimes referred to as the &ldquo;<B>Prospectuses</B>.&rdquo;
The U.S. Prospectus Supplement and the Canadian Prospectus Supplement are hereinafter collectively sometimes referred to as the &ldquo;<B>Prospectus
Supplements</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(6)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Any
amendment or supplement to the U.S. Prospectus or the Canadian Prospectus (including any document incorporated by reference therein),
that may be filed by or on behalf of the Company with the Canadian Commissions in the Qualifying Jurisdictions or with the SEC after the
Canadian Prospectus Supplement and the U.S. Prospectus Supplement have been filed and prior to the expiry of the period of distribution
of the Offered Shares, is referred to herein collectively as the &ldquo;<B>Supplementary Material</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(7)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
used herein, the &ldquo;<B>Applicable Time</B>&rdquo; is 5:00 p.m.&nbsp;(New York City time) on the date of this Agreement. As used herein,
a &ldquo;<B>free writing prospectus</B>&rdquo; has the meaning set forth in Rule&nbsp;405 under the Securities Act, and a &ldquo;<B>Time
of Sale Prospectus</B>&rdquo; means the U.S. Preliminary Prospectus together with the information and the free writing prospectuses (including,
without limitation, the term sheet dated October&nbsp;10, 2023), and each &ldquo;road show&rdquo; (as defined in Rule&nbsp;433
under the Securities Act), if any, related to the offering of the Offered Shares contemplated hereby that is a &ldquo;written communication&rdquo;
(as defined in Rule&nbsp;405 under the Securities Act) (each such road show, a &ldquo;<B>Road Show</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(8)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
used herein, the terms &ldquo;<B>Registration Statement</B>&rdquo;, &ldquo;<B>Preliminary Prospectuses</B>&rdquo;, &ldquo;<B>Time of Sale
Prospectus</B>&rdquo; and &ldquo;<B>Prospectuses</B>&rdquo; shall include the documents incorporated and deemed to be incorporated by
reference therein (the &ldquo;<B>Incorporated Documents</B>&rdquo;), including, unless the context otherwise requires, the documents,
if any, filed as exhibits to such Incorporated Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(9)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;All
references in this Agreement to the Registration Statement, the U.S. Preliminary Prospectus or the U.S. Prospectus shall include any copy
thereof filed with the SEC pursuant to its <I>Electronic Data Gathering, Analysis and Retrieval system</I> (&ldquo;<B>EDGAR</B>&rdquo;).
All references in this Agreement to Financial Statements (as defined in Section&nbsp;8(s)) and schedules and other information which are
 &ldquo;contained,&rdquo; &ldquo;included&rdquo; or &ldquo;stated&rdquo; in the Registration Statement, the U.S. Preliminary Prospectus,
the Time of Sale Prospectus or the U.S. Prospectus (and all other references of like import) shall be deemed to mean and include all such
Financial Statements and schedules and other information which is or is deemed to be incorporated by reference in the Registration Statement,
the U.S. Preliminary Prospectus, the Time of Sale Prospectus or the U.S. Prospectus, as the case may be; and all references in this Agreement
to amendments or supplements to the Registration Statement, the U.S. Preliminary Prospectus, the Time of Sale Prospectus or the U.S. Prospectus,
as the case may be, shall be deemed to mean and include the filing of any document under the United States Securities Exchange Act of
1934, as amended (together with the rules&nbsp;and regulations promulgated thereunder, the &ldquo;<B>Exchange Act</B>&rdquo;) or otherwise
that is or is deemed to be incorporated by reference in the Registration Statement, the U.S. Preliminary Prospectus, the Time of Sale
Prospectus or the U.S. Prospectus, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Distribution
of the Offered Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Each
Underwriter shall be permitted to appoint additional investment dealers or brokers (each, a &ldquo;</FONT><B>Selling Firm</B>&rdquo;)
as its agents in the Offering and each such Underwriter may determine the remuneration payable to such Selling Firm. The Underwriters
may offer the Offered Shares, directly and through Selling Firms or any duly registered affiliate of an Underwriter, in the Offering Jurisdictions
for sale to the public only in accordance with Applicable Securities Laws and in any jurisdiction outside of the Offering Jurisdictions
(subject to Section&nbsp;7 hereof) to purchasers permitted to purchase the Offered Shares only in accordance with Applicable Securities
Laws and applicable securities laws in such jurisdiction, and upon the terms and conditions set forth in the Offering Documents and in
this Agreement. Each Underwriter shall require any Selling Firm appointed by such Underwriter to agree to the foregoing and such Underwriter
shall be severally responsible for the compliance by such Selling Firm with the provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;For
purposes of this Section&nbsp;3, the Underwriters shall be entitled to assume that the Offered Shares are qualified for Distribution in
any Qualifying Jurisdiction, unless otherwise notified in writing by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Lead Underwriter shall promptly notify the Company when, in its opinion, the Distribution of the Offered Shares has ceased and will
provide to the Company, as soon as practicable thereafter, a breakdown of the number of Offered Shares distributed in each of the Qualifying
Jurisdictions where such breakdown is required for the purpose of calculating fees payable to the Canadian Securities Commissions and,
if applicable, in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(4)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Underwriters shall not, in connection with the services provided hereunder, make any representations or warranties with respect to the
Company or its securities, other than as set forth in the Offering Documents or in any Issuer Free Writing Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(5)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Notwithstanding
the foregoing provisions of this Section&nbsp;3, no Underwriter will be liable to the Company under this Section&nbsp;3 with respect to
a default by another Underwriter or another Underwriter&rsquo;s duly registered broker-dealer affiliate in the United States or any Selling
Firm, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(6)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Underwriters acknowledge that the Company is not taking any steps to qualify the Offered Shares for Distribution or register the Offered
Shares or the Distribution thereof with any securities authority outside of the Offering Jurisdictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section&nbsp;4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Preparation of Prospectus
Supplement; Marketing Materials; Due Diligence</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;During
the period of the Distribution of the Offered Shares, the Company shall co-operate in all respects with the Underwriters to allow and
assist the Underwriters to participate fully in the preparation of, and allow the Underwriters to approve (acting reasonably) the form
and content of, the Offering Documents and any Issuer Free Writing Prospectus and shall allow the Underwriters to conduct all &ldquo;due
diligence&rdquo; investigations which the Underwriters may reasonably require to fulfil the Underwriters&rsquo; obligations under Applicable
Securities Laws as underwriters and, in the case of the Canadian Prospectus Supplement, to enable the Underwriters responsibly to execute
any certificate required to be executed by the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Without
limiting the generality of clause (1)&nbsp;above, during the Distribution of the Offered Shares:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Company shall prepare, in consultation with the Lead Underwriter, and shall approve in writing,
prior to the time that any such marketing materials are provided to potential Purchasers, a template version of any marketing materials
reasonably requested to be provided by the Underwriters to any such potential Purchasers, and such marketing materials shall comply with
Applicable Securities Laws and shall be acceptable in form and substance to the Underwriters and their counsel, acting reasonably;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the Lead Underwriter shall, on behalf of the Underwriters, approve a template version of any such
marketing materials in writing prior to the time that such marketing materials are provided to potential Purchasers;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the Company shall file a template version of any such marketing materials on SEDAR+ as soon as reasonably
practical after such marketing materials are so approved in writing by the Company and the Lead Underwriter and in any event on or
before the day the marketing materials are first provided to any potential Purchaser, and any comparables shall be removed from the template
version in accordance with NI 44-101 prior to filing such on SEDAR+ (provided that if any such comparables are removed, the Company shall
deliver a complete template version of any such marketing materials to the Commission), and the Company shall provide a copy of such filed
template version to the Underwriters as soon as practicable following such filing; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">following the approvals and filings set forth in Section&nbsp;4(2)(a)&nbsp;to (c)&nbsp;above, the Underwriters
may provide a limited use version of such marketing materials to potential Purchasers in accordance with Applicable Securities Laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;By
the act of having delivered the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses to the Underwriters, the Company
shall have represented and warranted to the Underwriters that all information and statements (except </FONT>written information relating
to the Underwriters or regarding securities laws and available offering exemptions in jurisdictions other than Canada and the United States
furnished to the Company by the Underwriters expressly for use in the Offering Documents and set forth in the &ldquo;Plan of Distribution&rdquo;
section of the Offering Documents, and under &ldquo;Notice to Investors&rdquo;, any Issuer Free Writing Prospectus or any Supplementary
Materials) contained in such documents, at the respective dates of initial delivery thereof, comply with the Applicable Securities Laws
and are true and correct in all material respects, and that such documents, at such dates, contain no misrepresentation or omit to state
a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they
were made, not misleading and constitute full, true and plain disclosure of all material facts relating to the Company and the Offering
as required by the Applicable Securities Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(4)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Each
of the Company and the Underwriters, on a several basis, covenants and agrees not to provide any potential Purchaser with any marketing
materials except for marketing materials which have been approved as contemplated in Section&nbsp;4(2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Material
Changes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;During
the period from the date of this Agreement to the completion of the Distribution of the Offered Shares, the Company covenants and agrees
with the Underwriters that it shall promptly notify the Underwriters in writing of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any material change (actual, anticipated, contemplated or threatened) in or relating to the business,
affairs, operations, assets, liabilities (contingent or otherwise), capital or ownership of the Company and its Subsidiaries taken as
a whole;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any material fact which has arisen or been discovered and would have been
required to have been stated in any of the </FONT>Offering Documents or any Issuer Free Writing Prospectus had the fact arisen or been
discovered on or prior to the date of such document;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any change in any material fact (which for purposes of this Agreement shall be deemed to include the disclosure
of any previously undisclosed material fact) contained in the Canadian Preliminary Prospectus, the Canadian Prospectus, any Supplementary
Material, any Incorporated Documents and any Marketing Documents (collectively, the &ldquo;<B>Canadian Offering Documents</B>&rdquo;),
as they exist immediately prior to such change, which fact or change is, or may reasonably be expected to be, of such a nature as to render
any statement in such Canadian Offering Documents, as they exist taken together in their entirety immediately prior to such change, misleading
or untrue in any material respect or which would result in the Canadian Offering Documents, as they exist immediately prior to such change,
containing a misrepresentation or which would result in the Canadian Offering Documents, as they exist immediately prior to such change,
not complying with the laws of any Qualifying Jurisdiction in which the Offered Shares are to be offered for sale or which change would
reasonably be expected to have a significant effect on the market price or value of any securities of the Company; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the occurrence of any event as a result of which (i)&nbsp;the U.S. Offering Documents, in each case as
amended immediately prior to such occurrence, would include any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary in order to make the statements therein not misleading, or (ii)&nbsp;the U.S. Prospectus, any U.S. Amended
Prospectus or any Issuer Free Writing Prospectus, in each case as then amended or supplemented, would include any untrue statement of
a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
in which they are made, not misleading.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Underwriters agree, and will require each Selling Firm to agree, to cease the Distribution of the Offered Shares upon the Underwriter
receiving written notification of any change or material fact with respect to any Offering Document contemplated by this Section&nbsp;5
and to not recommence the Distribution of the Offered Shares until Supplementary Material disclosing such change are filed in such Offering
Jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company shall promptly comply with all applicable filing and other requirements under Applicable Securities Laws whether as a result of
such change, material fact or otherwise; provided that the Company shall not file any Supplementary Material or other document without
first providing the Underwriters with a copy of such Supplementary Material or other document and consulting with the Underwriters with
respect to the form and content thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(4)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
during the Distribution of the Offered Shares there is any change in any Applicable Securities Laws, which results in a requirement to
file a Canadian Prospectus Amendment or U.S. Registration Statement Amendment, the Company shall subject to the proviso in Section&nbsp;5(2)&nbsp;above,
make any such filing under Applicable Securities Laws as soon as possible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(5)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company shall in good faith discuss with the Underwriters any fact or change in circumstances (actual, anticipated, contemplated or threatened,
financial or otherwise) which is of such a nature that there is reasonable doubt whether written notice need be given under this Section&nbsp;5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;6&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Purchase,
Sale, Payment and Delivery of the Offered Shares.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company hereby confirms
its agreement with the Underwriters concerning the purchase and sale of the Offered Shares as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><I>Public Offering of the Offered Shares.</I></B> The Lead Underwriter hereby advises the Company that the Underwriters intend
to offer for sale to the public, on the terms set forth in the Time of Sale Prospectus and each Prospectus, their respective portions
of the Offered Shares as soon after this Agreement has been executed as the Lead Underwriter, in its sole judgment, has determined is
advisable and practicable. After the Underwriters have made a reasonable effort to sell all of the Offered Shares at the Offering Price,
the purchase price of the Offered Shares may be decreased by the Underwriters and may be further changed from time to time to an amount
not greater than the Offering Price, and the compensation realized by the Underwriters will be decreased by the amount that the aggregate
price paid by purchasers for the Offered Shares is less than the gross proceeds paid by the Underwriters to the Company. Any such decrease
will not affect the proceeds to be received by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><B><I>The Closing Date in respect of the Offered Shares</I></B>. Payment of the Offering Price for the Firm Shares, and if applicable,
any Additional Shares, shall be made to the Company by wire transfer against delivery of the Firm Shares and, if applicable, Additional
Shares, to CFCC on behalf of the Underwriters, through the facilities of CDS designated by the Underwriters, in such names and denominations
as the Underwriters may request, and such payment and delivery shall be made by 8:30 a.m. (Toronto time), on October 16, 2023 (respectively,
the &ldquo;<B>Closing Time</B>&rdquo; and the &ldquo;<B>Closing Date</B>&rdquo;) (unless another time and date shall be agreed to by the
Lead Underwriter and the Company or unless postponed in accordance with the provisions of Section&nbsp;18 hereof). The Firm Shares, and
Additional Shares, if any, shall be registered in such names and in such denominations as specified by the Lead Underwriter on behalf
of the Underwriters. It is understood that CFCC has been authorized, for its own accounts and the accounts of the non-defaulting Underwriters,
to accept delivery of and receipt for, and make payment of the Offering Price for, the Offered Shares the Underwriters have agreed to
purchase (subject to such adjustment as CFCC may determine to eliminate fractional shares and subject to adjustment in accordance with
Section&nbsp;18 hereof). CFCC, may (but shall not be obligated to) make payment for any Offered Shares to be purchased by any Underwriter
whose funds shall not have been received by CFCC by the Closing Date for the account of such Underwriter, but any such payment shall not
relieve such Underwriter from any of its obligations under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B><I>Over-Allotment
Option</I></B>. The Over-Allotment Option may be exercised by the Lead Underwriter on behalf of the Underwriters at any time, in whole
or in part by delivering notice to the Company not later than 7:00 a.m. (Vancouver time) on the date that is one Business Day<SUP></SUP>
prior to the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date
(the &ldquo;<B>Option Closing Date</B>&rdquo;) and time (the &ldquo;<B>Option Closing Time</B>&rdquo;) on and at which such Additional
Shares are to be purchased. Subject to the terms of this agreement, upon the Lead Underwriter furnishing this notice, the Underwriters
will be committed to purchase, in the respective percentages set forth in Section&nbsp;18, and the Company will be committed to issue
and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the notice.
Additional Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the
Offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">(4)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B><I>Delivery
of the Offered Shares and Closing Mechanics</I></B>. The Company shall deliver, or cause to be delivered, to CFCC for the accounts of
the Underwriters, the Firm Shares, and if applicable, the Additional Shares, at the Closing Date, against the irrevocable release of
a wire transfer of immediately available funds for the amount of the Offering Price therefor. The Offered Shares shall be registered
in such names and denominations as the Lead Underwriter shall have requested at least one full business day prior to the Closing Date.
Deliveries of the documents described in Section&nbsp;15(1) hereof with respect to the purchase of the Offered Shares shall be made at
the offices of Blake, Cassels &amp; Graydon LLP in Toronto, Ontario at 8:30 a.m. (Toronto time), or at such other place as the Lead Underwriter
and the Company may agree, on the Closing Date. In the event that the Over-Allotment Option is exercised after the Closing Date in accordance
with its terms, the closing of the issuance and sale of that number of Additional Shares in respect of which the Underwriters are exercising
the Over-Allotment Option shall take place at the Option Closing Time at the offices of Blake, Cassels &amp; Graydon LLP or at such other
place as may be agreed to by the Underwriters and the Company. At the Option Closing Time, the Company shall issue to the Underwriters
that number of Additional Shares in respect of which the Underwriters are exercising the Over-Allotment Option and deposit with CDS or
its nominee, if requested by the Lead Underwriter, the Additional Shares electronically through the non-certificated inventory system
of CDS against payment of $1.49 per Additional Share by wire transfer or certified cheque payable to the Company or as otherwise directed
by the Company. Time shall be of the essence, and delivery at the time and place specified in this Agreement is a further condition to
the obligations of the Underwriters.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;7&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Regulatory
Approvals</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will make all
necessary filings, use its best efforts to obtain all necessary consents and approvals (if any) and pay all filing fees required to be
paid in connection with the transactions contemplated by this Agreement. The Company will use its best efforts to qualify the Offered
Shares for offering and sale under the Applicable Securities Laws of the Offering Jurisdictions and in such other jurisdictions as the
Underwriters may designate and maintain such qualifications in effect for so long as required for the Distribution of the Offered Shares;
provided, however, that (i)&nbsp;the Company shall not be obligated to make any material filing, file any prospectus, registration statement
or similar document, consent to service of process, or qualify as a foreign corporation or as a dealer in securities in any of such other
jurisdictions, or subject itself to taxation in respect of doing business in any of such other jurisdictions in which it is not otherwise
so subject, or become subject to any additional periodic reporting or continuous disclosure obligations in such other jurisdictions, and
(ii)&nbsp;the Underwriters and the Selling Firms shall comply with the applicable laws in any such designated jurisdiction in making offers
and sales of Offered Shares therein.<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;8&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Representations
and Warranties of the Company.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company represents and
warrants to each of the Underwriters and Cantor Fitzgerald&nbsp;&amp; Co. (&ldquo;<B>CF US</B>&rdquo;) and acknowledges that the Underwriters
are relying on such representations and warranties in entering into this Agreement. The representations and warranties of the Company
contained in this Agreement shall be true as of the date hereof, the Closing Time and Option Closing Time, if applicable, and shall survive
the completion of the transactions contemplated under this Agreement and remain in full force and effect thereafter for the benefit of
the Underwriters:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B><I>Registration Statement and Prospectuses.</I></B> The Company is a &ldquo;foreign private issuer&rdquo;
(as defined in Rule&nbsp;405 under the Securities Act) and is eligible to use Form&nbsp;F-10 under the Securities Act to register the
offering of the Offered Shares under the Securities Act. The Company has prepared and filed with the SEC an appointment of agent for service
of process upon the Company on Form&nbsp;F-X in conjunction with the filing of the Registration Statement. The Registration Statement
and the Form&nbsp;F-X conform, and any further amendments to the Registration Statement or the Form&nbsp;F-X will conform to the requirements
of the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Compliance with Canadian Laws and Regulations.</I></B> The Company
is eligible to use the Shelf Procedures. No cease trade order preventing or suspending the use of the Canadian Preliminary Prospectus
or the Canadian Prospectus or preventing the distribution of the Offered Shares has been issued and no proceeding for that purpose has
been initiated or, to the knowledge of the Company, threatened, by any of the Canadian Commissions; as of their respective dates, the
Canadian Preliminary Prospectus and the Canadian Prospectus complied in all material respects with all applicable Canadian Securities.
On the Closing Date </FONT>and each Option Closing Date (i)&nbsp;the Canadian Prospectus will comply in all material respects with the
Canadian Securities Laws, (ii)&nbsp;the U.S. Prospectus will conform with the Canadian Prospectus except for such deletions therefrom
and additions thereto as are permitted or required by Form&nbsp;F-10 and the applicable rules&nbsp;and regulations of the SEC and (iii)&nbsp;the
Canadian Prospectus or any amendment or supplement thereto constituted at the respective dates thereof, and will constitute at the Closing
Date and each Option Closing Date full, true and plain disclosure of all material facts relating to the Offered Shares, that is required
to be in the Canadian Prospectus, and did not at the respective dates thereof, and will not at the Closing Date and each Option Closing
Date contain a misrepresentation or an untrue statement of a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. To its knowledge,
except as disclosed in the Registration Statement, or included or incorporated in the Preliminary Prospectuses, the Time of Sale Prospectus
and the Prospectuses, the Company is not a &ldquo;related issuer&rdquo; or &ldquo;connected issuer&rdquo; (as those terms are defined
in National Instrument 33-105 - <I>Underwriting Conflicts</I> of the Canadian Securities Administrators) of any of the Underwriters.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Compliance with U.S. Requirements.</I></B> The Registration Statement
has become effective under the Securities Act. No stop order suspending the effectiveness of the Registration Statement is in effect and
no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated or threatened
by the SEC. The U.S. Preliminary Prospectus and the U.S. Prospectus when filed complied in all material respects with the Securities Act
and were identical in all material respects to the copies thereof delivered to the Underwriters for use in connection with the offer and
sale of the Offered Shares. Each of the Registration Statement and any post-effective amendment thereto, at the time it became effective
and at the Closing Date </FONT>and each Option Closing Date, complied and will comply in all material respects with the Securities Act
and did not and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein not misleading. As of the Applicable Time, the Time of Sale Prospectus did not, and at the
time of the Closing Date and each Option Closing Date, the Time of Sale Prospectus, as then amended or supplemented by the Company, if
applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading. The U.S. Prospectus, as amended or supplemented,
as of its date and at the Closing Date and each Option Closing Date, did not and will not contain any untrue statement of a material fact
or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they
were made, not misleading. The representations and warranties set forth in the three immediately preceding sentences shall not apply to
statements in, or omissions from, any such document made in reliance upon, and in conformity with, information furnished to the Company
by the Underwriters contemplated by Section&nbsp;10(1)&nbsp;specifically for use in the preparation thereof. There are no agreements,
contracts, arrangements or understandings (written or oral) or other documents required to be described in the Time of Sale Prospectus
or the U.S. Prospectus or to be filed as exhibits to the Registration Statement which have not been described or filed as required.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><B><I>Reporting Issuer and TSX and NYSE American Status.</I></B> The Company is a &ldquo;reporting issuer&rdquo;
in each of the Qualifying Jurisdictions. The Company is in compliance in all material respects with the by-laws, rules&nbsp;and regulations
of each of the Exchanges.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><B><I>Short Form&nbsp;Eligibility.</I></B> The Company is eligible to file a prospectus in the form of
a short form prospectus under NI 44-101.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Status under the Securities Act.</I></B></FONT> The Company was not
and is not an &ldquo;ineligible issuer&rdquo; as defined in Rule&nbsp;405 under the Securities Act at the times specified in Rules&nbsp;164
and 433 under the Securities Act in connection with the offering of the Offered Shares.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"><B><I>Incorporated Documents.</I></B> The documents incorporated or deemed to be incorporated by reference
in the Prospectuses and the Registration Statement, when they were filed with the Canadian Commissions in each of the Qualifying Jurisdictions
or the SEC under the Securities Act or the Exchange Act, conformed in all material respects to the requirements of the Canadian Securities
Laws or U.S. Securities Laws, as applicable; and any further documents to be incorporated by reference in the Prospectuses or the Registration
Statement subsequent to the effectiveness of the Registration Statement and prior to the completion of the distribution of the Offered
Shares, when such documents are so filed, will conform in all material respects to the applicable requirements of Canadian Securities
Laws and U.S. Securities Laws, as applicable, and will not contain a misrepresentation or an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(h)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>No Marketing Materials.</I></B></FONT> Other than the term sheet in
respect of the offering and sale of Offered Shares dated October&nbsp;10, 2023, the Company has not provided any marketing materials
to any potential investors of Offered Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><B><I>No Conflicts. </I></B>Neither the execution of this Agreement, nor the issuance, offering or sale
of the Offered Shares, nor the consummation of any of the transactions contemplated herein and therein, nor the compliance by the Company
with the terms and provisions hereof and thereof will conflict with, or will result in a breach of, any of the terms and provisions of,
or has constituted or will constitute a default under, or has resulted in or will result in the creation or imposition of any lien, charge
or encumbrance upon any property or assets of the Company pursuant to the terms of any agreements, contracts, arrangements or understandings
(written or oral) to which the Company may be bound or to which any of the property or assets of the Company is subject, except (i)&nbsp;such
conflicts, breaches or defaults as may have been waived, and (ii)&nbsp;such conflicts, breaches and defaults that would not reasonably
be expected to have a Material Adverse Effect; nor will such action result (x)&nbsp;in any violation of the provisions of the organizational
or governing documents of the Company, or (y)&nbsp;in any violation of the provisions of any statute or any order, rule&nbsp;or regulation
applicable to the Company or of any Governmental Authority having jurisdiction over the Company, except such violations that would not
reasonably be expected to have a Material Adverse Effect, either individually or in the aggregate.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(j)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>No Misstatement or Omission in an Issuer Free Writing Prospectus or
marketing materials. </I></B></FONT>Each Issuer Free Writing Prospectus and any marketing materials, as of its issue date and as of each
Applicable Time, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information
contained in the Registration Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus
and the Prospectuses, including any Incorporated Document deemed to be a part thereof that has not been superseded or modified. The foregoing
sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus or any marketing materials made in reliance
upon, and in conformity with, written information furnished to the Company by or on behalf of the Underwriters specifically for inclusion
therein as contemplated by Section&nbsp;10(1).</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify"><B><I>Reports and Documents,&nbsp;etc.</I></B> There are no reports or information of the Company
or, to the knowledge of the Company, of any third party, that in accordance with the requirements of the Canadian Securities Laws or U.S.
Securities Laws must be made publicly available in connection with the offering of the Offered Shares that have not been made publicly
available as required. There are no documents of the Company or, to the knowledge of the Company, of any third party, required to be filed
with the Canadian Commissions in the Qualifying Jurisdictions or with the SEC in the United States in connection with the Time of Sale
Prospectus, the Canadian Prospectus and the U.S. Prospectus that have not been filed as required pursuant to the Canadian Securities Laws
or U.S. Securities Laws, as applicable. There are no agreements, contracts, arrangements or understandings (written or oral) or other
documents of the Company or, to the knowledge of the Company, of any third party, required to be described in the Time of Sale Prospectus,
the Canadian Prospectus and the U.S. Prospectus which have not been described or filed as required pursuant to the Canadian Securities
Laws or U.S. Securities Laws, as applicable.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify"><B><I>Offering Materials Furnished to Underwriters.</I></B> The Company
will deliver, upon request, on the Closing Date to the Lead Underwriter one complete signed copy of the Canadian Preliminary Prospectus
Supplement and the Canadian Prospectus Supplement, and conformed copies (to the extent such documents contain signatures) of the Registration
Statement and each amendment thereto, the Preliminary Prospectuses, the Time of Sale Prospectus, the Canadian Prospectus and the U.S.
Prospectus, as amended or supplemented, and any free writing prospectus reviewed and consented to by the Lead Underwriter, in such quantities
and at such places as the Lead Underwriter has reasonably requested for each of the Underwriters.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(m)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Corporate Action</I></B>. </FONT>All necessary corporate action has
been taken, or will be taken before the Closing Time by the Company to authorize the issuance, sale and delivery of the Firm Shares and
the Additional Shares, on the terms set forth in this Agreement.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify"><B><I>Distribution of Offering Material by the Company.</I></B> The Company has not distributed and will
not distribute, prior to the completion of the Underwriters&rsquo; distribution of the Offered Shares, any offering material in connection
with the offering and sale of the Offered Shares other than the Preliminary Prospectuses, the Time of Sale Prospectus, the Prospectuses,
any free writing prospectus reviewed and consented to by the Lead Underwriter on behalf of the Underwriters, or the Registration Statement.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify"><B><I>Authorization; Enforceability.</I></B> The Company has full corporate right, power and authority
to enter into this Agreement and perform the transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered
by the Company and is a legal, valid and binding agreement of the Company enforceable in accordance with its terms, except to the extent
that enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors&rsquo; rights
generally and by general equitable principles.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(p)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>No Material Adverse Effect.</I></B> Subsequent to the respective dates
as of which information is given in the Registration Statement or included or incorporated by reference in the Preliminary Prospectuses,
the Time of Sale Prospectus and the Prospectuses, if any (including any document deemed incorporated by reference therein), there has
not been (i)&nbsp;any Material Adverse Effect, (ii)&nbsp;any transaction which is material to the Company and the Material Subsidiaries
taken as a whole, (iii)&nbsp;any obligation or liability, direct or contingent (including any off-balance sheet obligations), incurred
by the Company or any Material Subsidiary, which is material to the Company and the Material Subsidiaries taken as a whole, (iv)&nbsp;any
material change in the capital stock or outstanding long-term indebtedness of the Company or any of the Material Subsidiaries or (v)&nbsp;any
dividend or distribution of any kind declared, paid or made on the capital stock of the Company or any Material Subsidiary, other than
in each case above in the ordinary course of business or as otherwise disclosed in the Registration Statement or included or incorporated
by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses</FONT>.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(q)</FONT></TD><TD STYLE="text-align: justify"><B><I>Independent
Accountants.</I></B> KPMG LLP, who have delivered their report with respect to the audited Financial Statements (as defined below and
which term as used in this Agreement includes the related notes thereto) are independent public, certified public or chartered accountants
as required by the Securities Act, the Exchange Act and applicable Canadian Securities Laws. There has not been any &ldquo;reportable
event&rdquo; (as that term is defined in NI 51-102) with KPMG LLP or any other prior auditor of the Company or any of its Material Subsidiaries.
To the Company&rsquo;s knowledge, after due and careful inquiry, KPMG LLP is not in violation of the auditor independence requirements
of the Sarbanes-Oxley Act of 2002. The Company is in compliance with its obligations in s. 4.11 of NI 51-102 with respect to the changing
of its auditor. </TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify"><B><I>Enforceability of Agreements.</I></B> All Material Agreements are legal, valid and binding obligations
of the Company enforceable in accordance with their respective terms, except to the extent that (i)&nbsp;enforceability may be limited
by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors&rsquo; rights generally and by general equitable
principles, and (ii)&nbsp;the indemnification provisions of certain agreements may be limited by Applicable Law or public policy considerations
in respect thereof, and except for any other potentially unenforceable term that, individually or in the aggregate, would not reasonably
be expected to be material to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(s)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Financial Information.</I></B></FONT> The consolidated financial statements
of the Company filed with the SEC and the Canadian Commissions as a part of the Offering Documents, together with the related notes and
schedules (the &ldquo;<B>Financial Statements</B>&rdquo;), present fairly, in all material respects, the consolidated financial position
of the Company and the Material Subsidiaries as of the dates indicated and the consolidated statements of comprehensive income, shareholders&rsquo;
equity and cash flows of the Company for the periods specified. Such Financial Statements conform in all material respects with International
Financial Reporting Standards as issued by the International Accounting Standards Board (&ldquo;<B>IFRS</B>&rdquo;), applied on a consistent
basis during the periods involved. The other financial data with respect to the Company and the Material Subsidiaries contained or incorporated
by reference in the Offering Documents are accurately and fairly presented in all material respects and prepared on a basis consistent
with the financial statements and books and records of the Company; there are no financial statements (historical or pro-forma) that are
required to be included or incorporated by reference in the Offering Documents that are not included or incorporated by reference as required;
the Company and the Material Subsidiaries do not have any material liabilities or obligations, direct or contingent (including any off-balance
sheet obligations), not described in the Offering Documents and all disclosures contained or incorporated by reference therein; and no
other financial statements are required to be set forth or to be incorporated by reference in the Offering Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(t)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Statistical,&nbsp;Industry-Related and Market-Related Data</I></B>.
</FONT>The statistical, industry-related and market-related data included or incorporated by reference in the Registration Statement or
included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses are based on or
derived from sources that the Company reasonably believes are reliable and accurate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(u)</FONT></TD><TD STYLE="text-align: justify"><B><I>Organization</I></B>. The Company and each of its Material Subsidiaries are, and will be, duly organized,
validly existing as a corporation and in good standing (where such concept is recognized) under the laws of their respective jurisdictions
of organization. The Company and each of the Material Subsidiaries are, and will be, duly licensed or qualified as a foreign corporation
for transaction of business and in good standing under the laws of each other jurisdiction in which their respective ownership or lease
of property or the conduct of their respective businesses requires such license or qualification, and have all corporate power and authority
necessary to own or hold their respective properties and to conduct their respective businesses as described in the Registration Statement
or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses, except where
the failure to be so qualified or in good standing or have such power or authority would not, individually or in the aggregate, have a
Material Adverse Effect.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(v)</FONT></TD><TD STYLE="text-align: justify"><B><I>Subsidiaries</I></B>. The subsidiaries of the Company listed
in Schedule &ldquo;A&rdquo; (individually a &ldquo;Material Subsidiary&rdquo; and collectively, the &ldquo;Material Subsidiaries&rdquo;),
include all of the Company&rsquo;s significant subsidiaries (as such term is defined in Rule 1-02 of Regulation S-X promulgated by the
SEC). Except for the Material Subsidiaries and investments in other issuers and the other subsidiaries of the Company that are not material
to the Company, the Company does not beneficially own or exercise control or direction over the securities of any person. Other than Encumbrances
under the Senior Secured Credit Facility and the APG Loan, the Company owns, directly or indirectly, all of the equity interests of the
Material Subsidiaries free and clear of all Encumbrances. All the equity interests of the Material Subsidiaries and the Joint Venture
Entities held by the Company have been validly issued and are fully paid, non-assessable and free of preemptive and similar rights. Other
than (i) the relevant partnership and/or joint venture agreement with respect to its Material Subsidiaries or Joint Venture Entities,
and (ii) under the KHNP Strategic Relationship Agreement, no person has any agreement, option, right or privilege (whether present or
future, contingent or absolute, pre-emptive or contractual) capable of becoming an agreement, for the purchase from the Company or any
of the Material Subsidiaries of any interest in any of the shares or for the issue or allotment of any unissued shares in the capital
of the Material Subsidiaries or Joint Venture Entities or any other security convertible into or exchangeable for any such shares.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(w)</FONT></TD><TD STYLE="text-align: justify"><B><I>Minute Books</I></B>. Since January&nbsp;1, 2020, all existing minute books of the Company and each
of the Material Subsidiaries, including all existing records of all meetings and actions of the board of directors (including, all board
committees) and securityholders of the Company (collectively, the &ldquo;<B>Corporate Records</B>&rdquo;) have been made available to
the Underwriters and their counsel, and all such Corporate Records are complete in all material respects. There are no transactions, agreements
or other actions of the Company or any of the Material Subsidiaries that are required to be recorded in the Corporate Records that are
not properly approved and/or recorded in the Corporate Records. All required filings have been made with the appropriate Governmental
Authorities in a timely fashion, except for such filings where the failure to file would not have a Material Adverse Effect, either individually
or in the aggregate.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(x)</FONT></TD><TD STYLE="text-align: justify"><B><I>No Violation or Default.</I></B> Neither the Company nor any of the Material Subsidiaries is (i)&nbsp;in
violation of its articles or by-laws or similar organizational documents; (ii)&nbsp;except as are disclosed in the Registration Statement
or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses, in violation
or default, and no event has occurred that, with notice or lapse of time or both, would constitute such a violation or default, in the
due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or
other agreement or instrument to which the Company or any of the Material Subsidiaries is a party or by which the Company or any of the
Material Subsidiaries is bound or to which any of the property or assets of the Company or any of the Material Subsidiaries are subject;
or (iii)&nbsp;except as disclosed in the Offering Documents, in violation of any Applicable Law, except in the case of each of clauses
(ii)&nbsp;and (iii)&nbsp;above, for any such violation or default that would not, individually or in the aggregate, have a Material Adverse
Effect. To the Company&rsquo;s knowledge, no other party under any material agreements, contracts, arrangements or understandings (written
or oral) to which it or any of the Material Subsidiaries is a party is in violation or default in any respect thereunder where such violation
or default would have a Material Adverse Effect.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(y)</FONT></TD><TD STYLE="text-align: justify"><B><I>Disclosure Controls.</I></B> The Company and each of the Material
Subsidiaries (other than Material Subsidiaries acquired not more than 365 days prior to the Evaluation Date, as defined below) maintain
systems of internal accounting controls applicable under IFRS in applicable periods, or sufficient to provide reasonable assurance that
(i) transactions are executed in accordance with management&rsquo;s general or specific authorizations; (ii) transactions are recorded
as necessary to permit preparation of financial statements in conformity with IFRS and to maintain asset accountability; (iii) access
to assets is permitted only in accordance with management&rsquo;s general or specific authorization; and (iv) the recorded accountability
for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
The Company&rsquo;s internal control over financial reporting is effective and the Company is not aware of any significant deficiencies
or material weaknesses in its internal control over financial reporting. Since the date of the latest audited financial statements of
the Company included or incorporated by reference in the Registration Statement or included or incorporated by reference in the Preliminary
Prospectuses, the Time of Sale Prospectus and the Prospectuses, there has been no change in the Company&rsquo;s internal control over
financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&rsquo;s internal control over
financial reporting. The Company has established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15 and 15d-15)
for the Company and designed such disclosure controls and procedures to ensure that material information relating to the Company and each
of the Material Subsidiaries is made known to the certifying officers by others within those entities. The Company&rsquo;s certifying
officers have evaluated the effectiveness of the Company&rsquo;s controls and procedures as at December 31, 2022 (such date, the &ldquo;Evaluation
Date&rdquo;), as required under Rule 13a-15 under the Exchange Act and NI 52-109, and the Company&rsquo;s certifying officers have concluded
that the disclosure controls and procedures are effective as of the Evaluation Date. Since the Evaluation Date, there have been no significant
changes in the Company&rsquo;s internal controls (as such term is defined in Item 307(b) of Regulation S-K under the Securities Act) or,
to the Company&rsquo;s knowledge, in other factors that could significantly affect the Company&rsquo;s internal controls, including any
corrective actions with regard to significant deficiencies or material weaknesses.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(z)</FONT></TD><TD STYLE="text-align: justify"><B><I>Capitalization. </I></B>The issued and outstanding Common Shares have been validly issued, are fully
paid and non-assessable and, to the knowledge of the Company, are not subject to any pre-emptive rights, rights of first refusal or similar
rights. The Company has an authorized, issued and outstanding capitalization as set forth in the Registration Statement or included or
incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses as of the dates referred to
therein (other than the grant of additional equity under the Company&rsquo;s existing equity compensation plans, or changes in the number
of outstanding Common Shares of the Company due to the issuance of shares upon the exercise or conversion of securities exercisable for,
or convertible into, Common Shares outstanding on the date hereof) and such authorized capital stock conforms in all material respects
to the description thereof set forth in the Registration Statement or included or incorporated by reference in the Preliminary Prospectuses,
the Time of Sale Prospectus and the Prospectuses. The description of the securities of the Company in the Registration Statement or included
or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses is complete and accurate
in all material respects. Except as disclosed in or contemplated by the Registration Statement or included or incorporated by reference
in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses, as of the date referred to therein, the Company does
not have outstanding any options to purchase, or any rights or warrants to subscribe for, or any securities or obligations convertible
into, or exchangeable for, or any contracts or commitments to issue or sell, any Common Shares or other securities. Except as disclosed
in or contemplated by or included or incorporated by reference in the Offering Documents, no person has any agreement or option or right
or privilege (whether by law, pre-emptive or contractual) issued or capable of becoming an agreement for: (i)&nbsp;the purchase, subscription
or issuance of any unissued shares, securities or warrants of the Company; or (ii)&nbsp;the repurchase by or on behalf of the Company
of any issued and outstanding securities of the Company. When issued in accordance with this Agreement, and upon receipt of payment for
the Offered Shares, the Offered Shares will have been duly and validly allotted and issued, fully paid and non-assessable</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(aa)</TD><TD STYLE="text-align: justify"><B><I>Voting or Control Agreements.</I></B> To the knowledge of the Company, no agreement is in force
or effect which in any manner affects the voting or control of any of the securities of the Company. No agreement is in force or effect
which in any manner affects the voting or control of any of the securities of any Material Subsidiary other than in respect of the security
interests granted by the Company and the Material Subsidiaries in connection with the Senior Secured Credit Facility and the APG Loan
pursuant to the Limited Partnership Agreement of Waterbury Lake Uranium Limited Partnership dated August&nbsp;16 2010 between Fission
Energy Corp., Korea Waterbury Uranium Limited Partnership and Waterbury Lake Uranium Corporation.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(bb)</TD><TD STYLE="text-align: justify"><B><I>Restrictions on Business.</I></B> Neither the Company nor any Material Subsidiary or, to the knowledge
of the Company, any Joint Venture Entity is a party to or bound or affected by any commitment, agreement or document containing any covenant
which expressly limits the freedom of the subject person to compete in any line of business, transfer or move any of its assets or operations
which materially and adversely affects, or could reasonably be expected to materially and adversely affect, the business practices, operations
or condition of the Company (on a consolidated basis), other than rights of first refusal and similar restrictions governing transfer
that are included in the joint venture agreements to which the Company, the Material Subsidiaries or the Joint Venture Entities are a
party;</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(cc)</TD><TD STYLE="text-align: justify"><B><I>No Applicable Registration or Other Similar Rights.</I></B> There are no persons with registration
or other similar rights to have any equity or debt securities registered or qualified for sale under the Registration Statement or the
Canadian Prospectus or included in the offering contemplated by this Agreement, other than pursuant to the KHNP Strategic Relationship
Agreement, who have not waived such rights in writing (including electronically) prior to the execution of this Agreement.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(dd)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>No Consents Required. </I></B></FONT>No consent, approval, authorization,
order, registration or qualification of or with Governmental Authority or stock exchange is required for the execution, delivery and performance
by the Company of this Agreement, the issuance and sale by the Company of the Offered Shares, except for (i)&nbsp;the qualification of
the Offered Shares for distribution in the United States and in Canada; (ii)&nbsp;the approval of the TSX and NYSE American; and (iii)&nbsp;such
consents, approvals, authorizations, orders and registrations or qualifications as may be required under applicable U.S. federal and state
securities laws in connection with the sale of the Offered Shares by the Underwriters.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(ee)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>No Preferential Rights.</I></B></FONT> Except as set forth in the
Registration Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses
(including pursuant to the KHNP Strategic Relationship Agreement), (i)&nbsp;no person, as such term is defined in Rule&nbsp;1-02 of Regulation
S-X promulgated under the Securities Act (each, a &ldquo;<B>Person</B>&rdquo;), has the right, contractual or otherwise, to cause the
Company to issue or sell to such Person any Common Shares or other securities of the Company, except pursuant to options and warrants
to purchase Common Shares pursuant to outstanding convertible securities of the Company, (ii)&nbsp;the Company has not granted to any
Person any preemptive rights, resale rights, rights of first refusal, or any other rights (whether pursuant to a &ldquo;poison pill&rdquo;
provision or otherwise) to purchase any Common Shares or other securities of the Company, (iii)&nbsp;no Person has the right to act as
an underwriter or as a financial advisor to the Company in connection with the offer and sale of the Offered Shares, and (iv)&nbsp;no
Person has the right, contractual or otherwise, to require the Company to register under the Securities Act or qualify for distribution
under Canadian Securities Laws any Common Shares or other securities of the Company, or to include any such Common Shares or other securities
in the Registration Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and
the Prospectuses, whether as a result of the filing or effectiveness of the Registration Statement, the Prospectuses (or documents incorporated
by reference therein) or the sale of the Offered Shares as contemplated thereby or otherwise.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ff)</TD><TD STYLE="text-align: justify"><B><I>Forward-Looking Information.</I></B> No forward-looking statement (within the meaning of Section&nbsp;27A
of the Securities Act and Section&nbsp;21E of the Exchange Act and no forward-looking information within the meaning of Section&nbsp;1(1)&nbsp;of
the Securities Act (<I>Ontario</I>)) contained or incorporated by reference in the Registration Statement, the Prospectuses or the Time
of Sale Prospectuses has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(gg)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Certificates.</I></B></FONT> The form of certificates representing
the Offered Shares, to the extent that physical certificates are issued for such securities, will be in due and proper form and conform
to the requirements of the <I>Business Corporations Act </I>(Ontario), the articles of incorporation of the Company and applicable requirements
of the TSX, NYSE American, The Depository Trust Company and CDS or will have been otherwise approved by the TSX and NYSE American, if
required. The Offered Shares will have been made eligible by The Depository Trust Company and CDS.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(hh)</TD><TD STYLE="text-align: justify"><B><I>Transfer Agent.</I></B> Computershare Investor Services Inc. has been duly appointed as registrar
and transfer agent for the Common Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><B><I>No Litigation</I></B>. Except as disclosed in or incorporated by reference in the Offering Documents,
there are no legal, governmental or regulatory actions, suits or proceedings pending, nor, to the Company&rsquo;s knowledge, any legal,
governmental or regulatory audits or investigations, to which the Company or a Subsidiary or, to the knowledge of the Company, any Joint
Venture Entity is a party or to which any property of the Company or any of the Material Subsidiaries or Joint Venture Entities is subject
that, individually or in the aggregate, if determined adversely to the Company or any of the Material Subsidiaries or Joint Venture Entities,
could reasonably be expected to have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform
its obligations under this Agreement; except as disclosed in or incorporated by reference in the Registration Statement or included or
incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses, to the Company&rsquo;s knowledge,
no such actions, suits or proceedings are threatened or contemplated by any Governmental Authority or threatened by others; and there
are no current or pending audits or investigations, actions, suits or proceedings by or before any Governmental Authority that are required
under the Securities Act or Canadian Securities Laws to be described in or included or incorporated by reference in the Registration Statement
or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses that are not
so described.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(jj)</TD><TD STYLE="text-align: justify"><B><I>Material Agreements</I></B><I>.</I> Neither the Company nor, to the Company's knowledge, any other
party is in default in the observance or performance of any material term or material obligation to be performed by any of them under
any Material Agreement and no event has occurred which with notice or lapse of time or both would constitute such a default, in any such
case which default or event would have a Material Adverse Effect on the Company. The Company has filed all Material Agreements on SEDAR+
pursuant to Canadian Securities Laws that are required to be filed by the Company as &quot;material contracts&quot; pursuant to Section&nbsp;12.2
of NI 51-102.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(kk)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Labor Disputes. </I></B></FONT>No labor disturbance by or dispute
with employees of the Company or any of the Material Subsidiaries exists or, to the knowledge of the Company, is threatened that could
reasonably be expected to have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(ll)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Local Disputes.</I></B> Except as set forth in the Registration Statement,
or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses,</FONT> no
dispute between the Company and any local, aboriginal or indigenous group exists, or to the Company&rsquo;s knowledge, is threatened or
imminent with respect to any of the Company&rsquo;s properties or exploration and development activities that could reasonably be expected
to have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(mm)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Proposed Acquisition</I></B>. Except as described in</FONT> the Offering
Documents, there are no material agreements, contracts, arrangements or understandings (written or oral) with any persons relating to
the acquisition or proposed acquisition by the Company or its Material Subsidiaries of any material interest in any business (or part
of a business) or corporation, nor are there any other specific contracts or agreements (written or oral) in respect of any such matters
in contemplation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(nn)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Intellectual Property Rights</I></B>. </FONT>Except as disclosed in
the Registration Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the
Prospectuses, the Company and the Material Subsidiaries own, possess, license or have other rights to use all foreign and domestic patents,
patent applications, trade and service marks, trade and service mark registrations, trade names, copyrights, licenses, inventions, trade
secrets, technology,&nbsp;Internet domain names, know-how and other intellectual property (collectively, the &ldquo;<B>Intellectual Property</B>&rdquo;),
necessary for the conduct of their respective businesses as now conducted except to the extent that the failure to own, possess, license
or otherwise hold adequate rights to use such Intellectual Property would not, individually or in the aggregate, have a Material Adverse
Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(oo)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Market Capitalization</I></B>. </FONT>At the time the Registration
Statement was initially filed, the Company met the then applicable requirements for the use of Form&nbsp;F-10 under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(pp)</FONT></TD><TD STYLE="text-align: justify"><B><I>No Material Defaults.</I></B> Neither the Company nor any of the Material Subsidiaries has defaulted
on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or
in the aggregate, would have a Material Adverse Effect. The Company has not filed a report pursuant to Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of
the Exchange Act since the filing of its last Annual Report on Form&nbsp;40-F, indicating that it (i)&nbsp;has failed to pay any dividend
or sinking fund installment on preferred stock or (ii)&nbsp;has defaulted on any installment on indebtedness for borrowed money or on
any rental on one or more long-term leases, which defaults, individually or in the aggregate, would have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(qq)</FONT></TD><TD STYLE="text-align: justify"><B><I>Certain Market Activities</I></B>. Neither the Company, nor any of the Material Subsidiaries, nor
to the knowledge of the Company any of their respective directors or officers has taken, directly or indirectly, any action designed,
or that has constituted or might reasonably be expected to cause or result in, under the Exchange Act, Canadian Securities Laws or otherwise,
the stabilization, maintenance or manipulation of the price of any security of the Company to facilitate the sale or resale of the Offered
Shares or any other &ldquo;reference security&rdquo; (as defined in Rule&nbsp;100 of Regulation M under the Exchange Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(rr)</TD><TD STYLE="text-align: justify"><B><I>Title to Real and Personal Property.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">The Company, a Material Subsidiary or, to the knowledge of the Company, a Joint Venture Entity, as applicable,
is the beneficial owner of, or has the right to acquire the interests in, the properties, business and assets referred to in the Registration
Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses,
inclusive of the Material Properties, free of all Encumbrances whatsoever other than security interests under the Senior Secured Credit
Facility and the APG Loan and the relevant joint venture agreements governing the Joint Venture Entities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Any and all agreements pursuant to which the Company, a Material Subsidiary or, to the knowledge of the
Company, a Joint Venture Entity, as applicable, holds or will hold any such interest in property, business or assets are in good standing
in all material respects according to their terms, and the properties are in good standing under the applicable statutes and regulations
of the jurisdictions in which they are situated except, in any case, where it would not result in a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">To the Company's knowledge there are no unrecorded Encumbrances on the properties, business and assets
in which the Company has or will have a direct or indirect economic interest except for the rights of Joint Venture Entities applicable
to such properties, business or assets and except security interests contemplated under the Senior Secured Credit Facility and the APG
Loan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">No other property rights, other than Permits to be acquired in the ordinary course, are necessary for
the conduct of the business of the Company, the Material Subsidiaries or, to the knowledge of the Company, the Joint Venture Entities
as currently conducted or contemplated to be conducted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">The Company knows of no claim or basis for any claim that could adversely affect the right of any such
person to use, transfer or otherwise exploit such property rights and, other than as described in the Registration Statement or included
or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses, no such person has any
responsibility or obligation to pay any commission, royalty, license fee or similar payment to any person with respect to the property
rights thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ss)</TD><TD STYLE="text-align: justify"><B><I>Material Properties.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">The Material Properties are the only mineral properties currently material to the Company in which the
Company, the Material Subsidiaries or the Joint Venture Entities have an interest.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">The Company, either directly or through the Material Subsidiaries or the Joint Venture Entities, holds
either freehold title, mining leases, mining claims, mineral claims, exploration permits or other conventional property, proprietary or
contractual interests or rights, recognized in the jurisdiction in which the Material Properties are located in respect of the ore bodies
and minerals located in the Material Properties in which the Company has a direct or indirect economic interest as described in the Registration
Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses under,
to the knowledge of the Company, valid, subsisting and enforceable title documents or other recognized and enforceable agreements or instruments,
sufficient to permit the subject person to explore, develop, mine and exploit the minerals relating thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">All leases or claims and permits relating to the Material Properties in which the Company (through the
applicable Material Subsidiary) has an interest or right have been validly located and recorded in accordance with all Applicable Laws
and are valid and subsisting; except as disclosed in the Registration Statement or included or incorporated by reference in the Preliminary
Prospectuses, the Time of Sale Prospectus and the Prospectuses.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">The Company, the Material Subsidiaries or, to the knowledge of the Company, the Joint Venture Entities,
or trustees on their respective behalfs, have all necessary surface rights, access rights and other necessary rights and interest relating
to the Material Properties in which the Company has a direct or indirect economic interest as described in the Registration Statement
or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses granting the
right and ability, as applicable, to explore, access, develop, construct, mine and exploit minerals, ore and metals for development purposes,
subject to the Company's ability to obtain the Permits (as defined below), as are appropriate in view of rights and interests therein,
with only such exceptions as do not materially interfere with the use made by the joint ventures of the rights or interests so held and
each of the proprietary interests or rights and each of the documents, agreements and instruments and obligations relating thereto referred
to above are currently in good standing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">The Company (through the applicable Material Subsidiary or Joint Venture Entity) has all necessary rights
and interests relating to the Material Properties in which the Company (through the applicable Material Subsidiary) has an interest granting
the Company (through the applicable Material Subsidiary) the right and ability to explore, develop, mine and exploit the minerals relating
thereto as are appropriate in view of the rights and interest therein of the Company or the applicable Material Subsidiary or Joint Venture
Entity, with only such exceptions as do not materially interfere with the current use made by the Company or the applicable Material Subsidiary
or Joint Venture Entity of the rights or interest so held.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">Each of the proprietary interests or rights and each of the agreements, contracts, arrangements or understandings
and obligations relating thereto referred to above is currently in good standing in all respects in the name of the Company or the applicable
Material Subsidiary or Joint Venture Entity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD STYLE="text-align: justify">Except as disclosed in the Registration Statement or included or incorporated by reference in the Preliminary
Prospectuses, the Time of Sale Prospectus and the Prospectuses, the Company and the Material Subsidiaries or Joint Venture Entities do
not have any responsibility or obligation to pay any commission, royalty, license, fee or similar payment to any person with respect to
the property rights thereof, other than mineral claim fees, except where such fee or payment would not have a Material Adverse Effect,
either individually or in the aggregate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD STYLE="text-align: justify">There are no expropriations or similar proceedings or any material challenges to title or ownership, actual
or threatened, of which the Company, any Subsidiary or, to the knowledge of the Company, any Joint Venture Entity has received notice
against any Material Property.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(tt)</TD><TD STYLE="text-align: justify"><B><I>Aboriginal Claims.</I></B> Other than as set forth in the Offering Documents, there are no claims
or actions with respect to aboriginal or indigenous rights against or affecting the Company, any Subsidiary or, to the knowledge of the
Company, any Joint Venture Entity, or, to the best of the knowledge of the Company, pending or threatened, including with respect to any
of the Material Properties, or, to the knowledge of the Company, in respect of any of the other properties in which the Company has an
economic interest. Other than as set forth in the Registration Statement or included or incorporated by reference in the Preliminary Prospectuses,
the Time of Sale Prospectus and the Prospectuses, the Company is not aware of any material land entitlement claims or aboriginal land
claims having been asserted or any legal actions relating to aboriginal or community issues having been instituted with respect to the
such properties, and no material dispute in respect of such properties with any local or aboriginal or indigenous group exists or, to
the knowledge of the Company, is threatened or imminent with respect thereto or activities thereon.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(uu)</TD><TD STYLE="text-align: justify"><B><I>Exploration Activities</I>.</B> All mineral exploration activities on the properties of the Company,
any Subsidiary or to the Company's knowledge, any Joint Venture Entity have been conducted in all material respects in accordance with
good mining and engineering practices and all applicable workers' compensation and health and safety and workplace laws, regulations and
policies have been duly complied with except where the failure to so conduct operations could not reasonably be expected to have a Material
Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vv)</TD><TD STYLE="text-align: justify"><B><I>Permits.</I></B> Except as disclosed in the Registration Statement or included or incorporated by
reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each of the Material Subsidiaries and, to the knowledge of the Company, each of the Joint Venture Entities
have obtained or identified all the material permits, certificates, and approvals (collectively, the &quot;Permits&quot;) which are required
or will be required for the exploration, development and eventual or actual operation of the Material Properties, which Permits include
but are not limited to environmental assessment certificates, water licenses, land tenures, rezoning or zoning variances and other necessary
local, provincial, state and federal approvals;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the required Permits have either been received, applied for, or the processes to obtain such Permits have
been or will in due course be initiated by the Company or the applicable Material Subsidiaries or Joint Venture Entities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">neither the Company nor the applicable Material Subsidiaries know of any issue or reason why the required
Permits should not be approved and obtained in the ordinary course, and neither the Company nor any applicable Material Subsidiary has
been advised by any Governmental Authority of its determination not to issue any required Permit; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">all assessments or other work required to be performed in relation to the material mineral claims of the
Company and the applicable Material Subsidiary in order to maintain their respective interests therein, if any, have been performed to
date and, except as disclosed in the Registration Statement or included or incorporated by reference in the Preliminary Prospectuses,
the Time of Sale Prospectus and the Prospectuses, the Company and the applicable Material Subsidiary have complied in all material respects
with all Applicable Laws in this regard as well as with regard to legal and contractual obligations to third parties in this regard except
in respect of mineral claims that the Company and the applicable Material Subsidiary intend to abandon or relinquish and except for any
non-compliance which would not either individually or in the aggregate have a Material Adverse Effect; all such mineral claims are in
good standing in all respects as of the date of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ww)</TD><TD STYLE="text-align: justify"><B><I>NI 43-101 Technical Reports.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Company made available to the respective authors thereof prior to the issuance of all of the applicable
technical reports filed by the Company on SEDAR+ relating to the Material Properties (the &quot;<B>Reports</B>&quot;), for the purpose
of preparing the Reports, as applicable, all information requested, and no such information contained any material misrepresentation as
at the relevant time the relevant information was made available;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Reports complied in all material respects with the requirements of NI 43-101 as at the date of each
such Report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the Company is in compliance, in all material respects, with the provisions of NI 43-101 and has filed
all technical reports required thereby and, at the time of filing, all such reports complied, in all material respects, with the requirements
of NI 43-101;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">except as disclosed in the Registration Statement or included or incorporated
by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses, all scientific and technical information
disclosed in the </FONT>Registration Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale
Prospectus and the Prospectuses: (i)&nbsp;is based upon information prepared, reviewed and/or verified by or under the supervision of
a &quot;qualified person&quot; (as such term is defined in NI 43-101), (ii)&nbsp;has been prepared and disclosed in accordance with Canadian
industry standards set forth in NI 43- 101, and (iii)&nbsp;was true, complete and accurate in all material respects at the time of filing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(v)</FONT></TD><TD STYLE="text-align: justify">methods used in estimating the Company&rsquo;s mineral reserves and mineral resources have been prepared
in accordance with accepted mineral reserve and mineral resource estimation practices;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(vi)</FONT></TD><TD STYLE="text-align: justify">the
Canadian Prospectus Supplement includes all current scientific and technical information with respect to the Material Properties as required
under Section&nbsp;5.4 of Form&nbsp;51-102F2, as required to satisfy the disclosure requirements of Item 9 of Form&nbsp;44-101F1; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(vii)</FONT></TD><TD STYLE="text-align: justify">the Company has not been advised by any Canadian Commission that, in the view of staff at the Canadian
Commission, any Report is not current or requires amendment in order to comply with the requirements of NI 43-101.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(xx)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Insurance.</I></B> The Company, the Material Subsidiaries and, to
the knowledge of the Company, the Joint Venture Entities maintain insurance covering their properties, operations, personnel and businesses
that the Company reasonably deems adequate; such insurance insures against such losses and risks to an extent which is adequate in accordance
with customary industry practice to protect such persons and their respective businesses; all such insurance is fully in force on the
date hereof and will be fully in force on the Closing Date. </FONT><FONT STYLE="background-color: white">The Company and the Subsidiaries
are in compliance with the terms of such policies and instruments in all material respects, and there are no claims by the Company or
any of the Subsidiaries under any such policy or instrument as to which any insurance company is denying liability or defending under
a reservation of rights clause. </FONT>The Company has no reason to believe that such persons will not be able to renew such existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue
their businesses at a cost that would not be reasonably expected to have a Material Adverse Effect on the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(yy)</TD><TD STYLE="text-align: justify"><B><I>Employment Matters</I></B><I>:</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">The Company, each of the Material Subsidiaries and, to the knowledge of the Company, each of the Joint
Venture Entities is in compliance in all material respects with all laws respecting employment and employment practices, terms and conditions
of employment, pay equity and wages.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">There has not been and there is not currently any labour disruption or conflict which is adversely affecting
or could adversely affect, in a material manner, the carrying on of the business of the Company, any Subsidiary or, to the knowledge of
the Company, any Joint Venture Entity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Each material plan for retirement, bonus, stock purchase, profit sharing, stock options, deferred compensation,
severance or termination pay, insurance, medical, hospital, dental, vision care, drug, sick leave, disability, salary continuation, legal
benefits, unemployment benefits, vacation, incentive or otherwise contributed to or required to be contributed to, by the Company or any
Subsidiary for the benefit of any current or former director, officer, employee or consultant of the Company and the Material Subsidiaries
(the &quot;<B>Employee Plans</B>&quot;) has been maintained in material compliance with its terms and with the requirements prescribed
by any and all statutes, orders, rules&nbsp;and regulations that are applicable to such Employee Plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">All material accruals for unpaid vacation pay, premiums for unemployment insurance, health premiums, federal
or provincial pension plan premiums, accrued wages, salaries and commissions and Employee Plan payments have been reflected in the books
and records of the Company or the relevant Subsidiary.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">To the knowledge of the Company, no officer, director, employee or security holder of the Company has
any cause of action or other claim whatsoever against, or owes any amount to, the Company in connection with its business except for claims
in the ordinary and normal course of the business such as for accrued vacation pay or other amounts or matters which would not be material
to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(zz)</TD><TD STYLE="text-align: justify"><B><I>Related Party Transactions</I></B><I>.</I> Except as disclosed in the Registration Statement or
included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">neither the Company nor any Material Subsidiary owes any monies to or has any present loans to, or borrowed
any monies from or is otherwise indebted to, any officer, director, employee, shareholder or any person not dealing at &quot;arm's length&quot;
(as such term is defined in the Tax Act) with any of them except for usual employee reimbursements and compensation paid in the ordinary
and normal course of its business;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">except as disclosed in the Registration Statement or included or incorporated by reference in the Preliminary
Prospectuses, the Time of Sale Prospectus and the Prospectuses, and usual employee or consulting arrangements made in the ordinary and
normal course of business, neither the Company nor any Material Subsidiary is a party to any contract, agreement or understanding with
any officer, director, employee, shareholder or any other person not dealing at arm's length with it; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">none of the directors, officers or employees of the Company, any known holder of more than ten percent
(10%) of any class of shares of the Company, or any known associate or affiliate of any of the foregoing persons has had any material
interest, direct or indirect, in any material transaction with the Company or any Subsidiary, or any proposed material transaction which,
as the case may be, materially affected, is material to or will materially affect the Company, any Subsidiary or their respective businesses.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(aaa)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Taxes. </I></B></FONT>The Company and each of the Material Subsidiaries
have filed all federal, state, provincial, local and foreign tax returns which have been required to be filed, which such tax returns
are correct and complete in all material respects, and paid all taxes shown thereon through the date hereof, to the extent that such taxes
have become due and are not being contested in good faith, except where the failure to so file or pay would not have a Material Adverse
Effect. Except as otherwise disclosed in or contemplated by the Registration Statement or included or incorporated by reference in the
Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses, no tax deficiency has been determined adversely to the Company
or any of the Material Subsidiaries which would have, individually or in the aggregate, a Material Adverse Effect. The Company has no
knowledge of any federal, state, provincial or other governmental tax deficiency, penalty or assessment which has been asserted or threatened
in writing against it which would have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(bbb)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Investment Company Act</I></B>. </FONT>Neither the Company nor any
of the Material Subsidiaries is or, after giving effect to the offering and sale of the Offered Shares and the application of the proceeds
thereof as described in the Registration Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time
of Sale Prospectus and the Prospectuses, will be required to register as an &ldquo;investment company&rdquo; or an entity &ldquo;controlled&rdquo;
by an &ldquo;investment company,&rdquo; as such terms are defined in the Investment Company Act of 1940, as amended.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(ccc)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>ERISA</I></B>. The Company does not have a</FONT> material employee
benefit plan, within the meaning of Section&nbsp;3(3)&nbsp;of the Employee Retirement Income Security Act of 1974, as amended.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ddd)</TD><TD STYLE="text-align: justify"><B><I>Company is not a &ldquo;Controlled Foreign Corporation&rdquo;. </I></B>To the Company&rsquo;s knowledge,
based solely upon the record ownership of shares, and without regard to the beneficial ownership of shares held in street name, the option
to acquire shares granted hereunder to the underwriters, and any indirect or constructive ownership by U.S. Persons pursuant Section&nbsp;958
of the Internal Revenue Code of 1986, as amended (the &ldquo;<B>Code</B>&rdquo;) not actually disclosed to the Company, the Company is
not a &ldquo;controlled foreign corporation,&rdquo; as such term is defined in the Code.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(eee)</TD><TD STYLE="text-align: justify"><B><I>No Price Stabilization or Manipulation</I>; <I>Compliance with Regulation M</I></B>. The Company
has not taken, nor will the Company take, directly or indirectly, any action designed to or that might be reasonably expected to cause
or result in stabilization or manipulation of the price of the Common Shares, as applicable, or any other &ldquo;reference security&rdquo;
(as defined in Rule&nbsp;100 of Regulation M under the Exchange Act (&ldquo;<B>Regulation M</B>&rdquo;)) whether to facilitate the sale
or resale of the Offered Shares, as applicable, or otherwise, and has taken no action which would directly or indirectly violate Regulation
M.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(fff)</TD><TD STYLE="text-align: justify"><B><I>FINRA Matters</I></B>. The Company is an &ldquo;experienced issuer&rdquo; as such term is defined
in FINRA Rule&nbsp;5110.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(ggg)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Environmental Laws</I>.</B> Except as disclosed in the </FONT>Registration
Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each of the Company, the Material Subsidiaries and, to the knowledge of the Company, the Joint Venture
Entities is in compliance in all material respects with all applicable federal, provincial, state, municipal and local laws, statutes,
ordinances, bylaws and regulations and orders, directives and decisions rendered by any ministry, department or administrative or regulatory
agency (the &quot;<B>Environmental Laws</B>&quot;) relating to the protection of the environment, occupational health and safety or the
processing, use, treatment, storage, disposal, discharge, transport or handling of any pollutants, contaminants, chemicals or industrial,
toxic or hazardous wastes or substance, including any uranium or derivatives thereof (the &quot;<B>Hazardous Substances</B>&quot;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">each of the Company, the Material Subsidiaries and, to the knowledge of the Company, the Joint Venture
Entities has obtained all licenses, permits, approvals, consents, certificates, registrations and other authorizations under all applicable
Environmental Laws (the &quot;<B>Environmental Permits</B>&quot;) necessary as at the date hereof for the operation of the businesses
carried on by the Company and the Material Subsidiaries and Joint Venture Entities, other than those Environmental Permits that are routine
in nature and anticipated to be obtained in the ordinary course and each Environmental Permit is valid, subsisting and in good standing
and to the knowledge of the Company neither the Company nor the Material Subsidiaries or Joint Venture Entities is in default or breach
of any Environmental Permit which would have a Material Adverse Effect, and no proceeding is pending or, to the knowledge of the Company
or the Material Subsidiaries, threatened, to revoke or limit any Environmental Permit;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the Company, the Material Subsidiaries and, to the knowledge of the Company, the Joint Venture Entities,
are in material compliance with all Environmental Laws and Environmental Permits with respect to the use, storage, transport and handling
of Hazardous Substances;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">none of the Company, the Material Subsidiaries nor, to the knowledge of the Company, the Joint Venture
Entities has received any notice of, or been prosecuted for an offence alleging, non-compliance with any Environmental Law that would
have a Material Adverse Effect, and neither the Company nor the Material Subsidiaries (including, if applicable, any predecessor companies)
has settled any allegation of non-compliance that would have a Material Adverse Effect short of prosecution. There are no orders or directions
relating to environmental matters requiring any material work, repairs, construction or capital expenditures to be made with respect to
any of the assets of the Company or the Material Subsidiaries, nor has the Company or the Material Subsidiaries received notice of any
of the same which has not been addressed;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">none of the Company, any Subsidiary or, to the knowledge of the Company, any Joint Venture Entity has
received any notice wherein it is alleged or stated that the Company or the Material Subsidiaries is potentially responsible for a federal,
provincial, municipal or local clean-up site or corrective action under any Environmental Laws;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">none of the Company, any Subsidiary or, to the knowledge of the Company, any Joint Venture Entity has
received any request for information in connection with any federal, state, municipal or local inquiries as to disposal sites and, to
the best of the knowledge of the Company, there are no environmental audits, evaluations, assessments, studies or tests being conducted
by any federal, provincial, municipal or local except for ongoing audits, evaluations, assessments, studies or tests being conducted in
the ordinary course;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(vii)</FONT></TD><TD STYLE="text-align: justify">the Company, each of the Material Subsidiaries and, to the knowledge of the Company, each of the Joint
Venture Entities is in compliance in all material respects with all applicable workers' compensation and health and safety and workplace
laws, regulations and policies.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(hhh)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Finder&rsquo;s Fee&rsquo;s. </I></B></FONT>Neither the Company nor
any of the Material Subsidiaries has incurred any liability for any finder&rsquo;s fees, brokerage commissions or similar payments in
connection with the transactions herein contemplated, except as may otherwise exist with respect to the Underwriters pursuant to this
Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Broker/Dealer Relationships</I></B>. </FONT>Neither the Company nor
any of the Material Subsidiaries or any related entities (i)&nbsp;is required to register as a &ldquo;broker&rdquo; or &ldquo;dealer&rdquo;
in accordance with the provisions of the Exchange Act or (ii)&nbsp;directly or indirectly through one or more intermediaries, controls
or is a &ldquo;person associated with a member&rdquo; or &ldquo;associated person of a member&rdquo; (within the meaning set forth in
the FINRA Manual).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(jjj)</TD><TD STYLE="text-align: justify"><B><I>Dividend Restrictions</I></B>. Except as may be restricted by Applicable Law, no Material Subsidiary
is prohibited or restricted, directly or indirectly, from paying dividends to the Company, or from making any other distribution with
respect to such Material Subsidiaries&rsquo; equity securities or from repaying to the Company or any other Material Subsidiaries any
amounts that may from time to time become due under any loans or advances to such Material Subsidiaries from the Company or from transferring
any property or assets to the Company or to any other Material Subsidiaries.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(kkk)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>No Improper Practices. </I></B></FONT>(i)&nbsp;Neither the Company
nor, to the Company&rsquo;s knowledge, the Material Subsidiaries, nor to the Company&rsquo;s knowledge, any of their respective directors
or officers has, in the past five years, made any unlawful contributions to any candidate for any political office (or failed fully to
disclose any contribution in violation of Applicable Law) or made any contribution or other payment to any official of, or candidate for,
any federal, state, provincial, municipal, or foreign office or other person charged with similar public or quasi-public duty in violation
of any Applicable Law or of the character required to be disclosed in the Registration Statement or included or incorporated by reference
in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses; (ii)&nbsp;no relationship, direct or indirect, exists
between or among the Company or, to the Company&rsquo;s knowledge, any Material Subsidiary or any affiliate of any of them, on the one
hand, and the directors, officers and shareholders of the Company or, to the Company&rsquo;s knowledge, any Material Subsidiary, on the
other hand, that is required by the Securities Act or Canadian Securities Laws to be described in the Registration Statement or included
or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses that is not so described;
(iii)&nbsp;no relationship, direct or indirect, exists between or among the Company or any Material Subsidiary or any affiliate of them,
on the one hand, and the directors, officers, or shareholders of the Company or, to the Company&rsquo;s knowledge, any Material Subsidiary,
on the other hand, that is required by the rules&nbsp;of FINRA (or Canadian equivalent thereof) to be described in the Registration Statement
or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses that is not
so described; (iv)&nbsp;except as disclosed in the Registration Statement or included or incorporated by reference in the Preliminary
Prospectuses, the Time of Sale Prospectus and the Prospectuses in the Prospectuses, there are no material outstanding loans or advances
or material guarantees of indebtedness by the Company or, to the Company&rsquo;s knowledge, any Material Subsidiary to or for the benefit
of any of their respective officers or directors or any of the members of the families of any of them; and (v)&nbsp;the Company has not
offered, or caused any placement agent to offer, Common Shares or to make any payment of funds to any person with the intent to influence
unlawfully (A)&nbsp;a customer or supplier of the Company or any Material Subsidiary to alter the customer&rsquo;s or supplier&rsquo;s
level or type of business with the Company or any Material Subsidiary or (B)&nbsp;a trade journalist or publication to write or publish
favorable information about the Company or any Material Subsidiary or any of their respective products or services, and, (vi)&nbsp;neither
the Company nor any Material Subsidiary nor to the Company&rsquo;s knowledge, any director, officer, employee or agent of the Company
or any Material Subsidiary has made any payment of funds of the Company or any Material Subsidiary or received or retained any funds in
violation of any Applicable Law (including, without limitation, the Foreign Corrupt Practices Act of 1977 and the <I>Corruption of Foreign
Public Officials Act </I>(Canada)).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(lll)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Operations</I></B>. </FONT>The operations of the Company and the Material
Subsidiaries are and have been conducted at all times in compliance with applicable financial record keeping and reporting requirements
of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the <I>Proceeds of Crime (Money Laundering) and Terrorist
Financing Act </I>(Canada), the <I>Corruption of Foreign Public Officials Act </I>(Canada) and applicable rules&nbsp;and regulations thereunder,
and the money laundering statutes of all applicable jurisdictions, the rules&nbsp;and regulations thereunder and any related or similar
applicable rules, regulations or guidelines, issued, administered or enforced by any Governmental Authority (collectively, the &ldquo;<B>Money
Laundering Laws</B>&rdquo;); and no action, suit or proceeding by or before any court or Governmental Authority involving the Company
or any of the Material Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(mmm)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Sanctions. </I></B></FONT>(i)&nbsp;The Company represents that, neither
the Company nor any of the Material Subsidiaries (collectively, the &ldquo;<B>Entity</B>&rdquo;) nor to the Company&rsquo;s knowledge,
any director, officer, employee, agent, affiliate or representative of the Company, is a government, individual, or entity (in this paragraph
(ggg), &ldquo;<B>Member</B>&rdquo;) that is, or is owned or controlled by a Member that is:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(A)</FONT></TD><TD STYLE="text-align: justify">the subject of any sanctions administered or enforced by the U.S. Department of Treasury&rsquo;s Office
of Foreign Assets Control, the United Nations Security Council, the European Union, Her Majesty&rsquo;s Treasury, the Office of the Superintendent
of Financial Institutions (Canada), or pursuant to the <I>Special Economic Measures Act </I>(Canada) or other relevant sanctions authority
or Applicable Law (collectively, &ldquo;<B>Sanctions</B>&rdquo;), nor</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(B)</FONT></TD><TD STYLE="text-align: justify">located, organized or resident in a country or territory that is the subject of Sanctions (including,
without limitation, Burma/Myanmar, Cuba,&nbsp;Iran, Libya, North Korea, Russia, Sudan, Syria, the Crimea region of Ukraine, the so-called
Donetsk People&rsquo;s Republic and the so-called Luhansk People&rsquo;s Republic and Zimbabwe).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify">The Company represents and covenants that it will not, directly or indirectly, use the proceeds of the
offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Member:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(A)</FONT></TD><TD STYLE="text-align: justify">to fund or facilitate any activities or business of or with any Member or in any country or territory
that, at the time of such funding or facilitation, is the subject of Sanctions; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(B)</FONT></TD><TD STYLE="text-align: justify">in any other manner that will result in a violation of Sanctions by any Member (including any Member participating
in the offering, whether as underwriter, advisor, investor or otherwise).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify">The Company represents and covenants that, except as disclosed in the Registration Statement or included
or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses, for the past 5 years,
it has not knowingly engaged in, is not now knowingly engaged in, and will not engage in, any dealings or transactions with any Member,
or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(nnn)</FONT></TD><TD STYLE="text-align: justify"><B><I>Certification of Disclosure</I></B>. There has been no failure on the part of the Company, or to
the Company&rsquo;s knowledge, any of the Company&rsquo;s directors or officers, in their capacities as such, to comply in all material
respects with any applicable provisions of the Sarbanes-Oxley Act, NI 52-109 and the rules&nbsp;and regulations promulgated thereunder.
Each of the principal executive officer and the principal financial officer of the Company (or each former principal executive officer
of the Company and each former principal financial officer of the Company as applicable) and each certifying officer of the Company (or
each former certifying officer of the Company and each former certifying officer of the Company as applicable) has made all certifications
required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules, forms, statements and other documents
required to be filed by it or furnished by it to the SEC and as required to be made and filed by NI 52-109. For purposes of the preceding
sentence, &ldquo;principal executive officer&rdquo; and &ldquo;principal financial officer&rdquo; shall have the meanings given to such
terms in the Sarbanes-Oxley Act and &ldquo;certifying officer&rdquo; shall have the meanings given to such term in NI 52-109.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(ooo)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Filings. </I></B></FONT>Since January&nbsp;1, 2020, the Company has
filed all documents or information required to be filed by it under Canadian Securities Laws, U.S. Securities Laws, and the rules, regulations
and policies of the Exchanges, except where the failure to file such documents or information will not have a Material Adverse Effect,
either individually or in the aggregate; all material change reports, annual information forms, financial statements, management proxy
circulars and other documents filed by or on behalf of the Company with the Exchanges, the SEC and the Canadian Commissions, as of its
date, did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading and did not contain a misrepresentation
at the time at which it was filed; the Company has not filed any confidential material change report or any document requesting confidential
treatment with any Governmental Authority that at the date hereof remains confidential.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(ppp)</FONT></TD><TD STYLE="text-align: justify"><B><I>Due Diligence Matters. </I></B>To the knowledge of the Company, all documents and information delivered
and provided by or on behalf of the Company to the Underwriters as a part of their due diligence in connection with the Offering were
complete and accurate in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font-size: 10pt; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(qqq)</FONT></TD><TD STYLE="text-align: justify"><B><I>Cybersecurity</I></B>. To the knowledge of the Company, there has been no security breach or other
compromise of or relating to any of the Company&rsquo;s information technology and computer systems, networks, hardware, software, data
(including the data of their respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of
them), equipment or technology (collectively, &ldquo;<B>IT Systems and Data</B>&rdquo;) and (i)&nbsp;the Company has not been notified
of, and has no knowledge of any event or condition that would reasonably be expected to result in, any security breach or other compromise
to their IT Systems and Data; (ii)&nbsp;the Company is presently in compliance with all applicable laws or statutes and all judgments,
orders, rules&nbsp;and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual
obligations relating to the privacy and security of IT Systems and Data and to the protection of such IT Systems and Data from unauthorized
use, access, misappropriation or modification, except as would not, in the case of this clause (ii), individually or in the aggregate,
have a Material Adverse Effect; and (iii)&nbsp;the Company has implemented backup and disaster recovery technology consistent with industry
standards and practices.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(rrr)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Exchange Registration. </I></B></FONT>The Common Shares are registered
pursuant to Section&nbsp;12(b)&nbsp;of the Exchange Act and are accepted for trading on the NYSE American under the symbol &ldquo;DNN&rdquo;
and the TSX under the symbol &ldquo;DML&rdquo;, and the Company has taken no action designed to terminate the registration of the Common
Shares under the Exchange Act or delisting the Common Shares from either of the Exchanges, nor, except as disclosed in the Registration
Statement or included or incorporated by reference in the Preliminary Prospectuses, the Time of Sale Prospectus and the Prospectuses,
has the Company received any notification that the SEC, the Canadian Commissions or either of the Exchanges is contemplating terminating
such registration or listing. Except as disclosed in the Registration Statement or included or incorporated by reference in the Preliminary
Prospectuses, the Time of Sale Prospectus and the Prospectuses, the Company has complied in all material respects with the applicable
requirements of the Exchanges for maintenance of inclusion of the Common Shares thereon. As at the Closing Date, the Company will have
obtained, all necessary consents, approvals, authorizations or orders of, or filing, notification or registration with, the Exchanges,
the SEC and the Canadian Commissions, where applicable, required for the listing and trading of the Offered Shares, subject only to satisfying
their standard listing and maintenance requirements. The Company has no reason to believe that it will not in the foreseeable future continue
to be in compliance with all such listing and maintenance requirements of each Exchange.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(sss)</TD><TD STYLE="text-align: justify"><B><I>ATM Program. </I></B>The Company has sold 34,669,322 Common Shares at an average price of
                                                                 approximately $1.49 for aggregate gross proceeds of $49,847,849 under the equity distribution agreement between the Company,
                                                                 CFCC and Scotia Capital Inc. dated September&nbsp;28, 2021 (the &ldquo;<B>Distribution Agreement</B>&rdquo;). As at the date hereof
                                                                 the Distribution Agreement has been terminated and the Company is not a party to any &ldquo;at-the-market&rdquo; sales
                                                                 arrangement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In this Agreement, a
reference to &ldquo;knowledge&rdquo; of the Company, means the knowledge of David Cates, President and Chief Executive Officer,
Elizabeth Sidle, Vice President Finance and Interim Chief Financial Officer and Amanda Willett, Vice President Legal and Corporate
Secretary, in each case, after reasonable inquiry within the scope of such person&rsquo;s duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any certificate signed by
any officer on behalf of the Company or any of the Material Subsidiaries and delivered to the Underwriters or counsel for the Underwriters
in connection with the offering of the Offered Shares shall be deemed to be a representation and warranty by the Company or Material Subsidiaries,
as the case may be, as to matters covered thereby, to each Underwriter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company acknowledges that
the Underwriters and, for purposes of the opinions to be delivered pursuant to Section&nbsp;15(1)&nbsp;hereof, counsel to the Company
and counsel to the Underwriters will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such
reliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;9&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Representations,
Warranties and Covenants of the Underwriters</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Each
Underwriter hereby severally, and not jointly, nor jointly and severally, represents and warrants to the Company that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">it is, and will remain so, until the completion of the Offering, appropriately registered under Applicable
Securities Laws so as to permit it to lawfully fulfill its obligations hereunder; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">it has good and sufficient right and authority to enter into this Agreement and complete the transactions
contemplated under this Agreement on the terms and conditions set forth herein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Underwriters hereby covenant and agree with the Company to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><B><I>Compliance with Securities Laws</I></B><I>.</I> The Underwriters will comply with applicable securities
laws, including all Applicable Securities Laws, in connection with the offer and sale and distribution of the Offered Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><B><I>Completion of Distribution</I></B><I>.
</I>The Underwriters will use their commercially reasonable efforts to complete the distribution of the Offered Shares as promptly as
possible after the Closing Time, but in any event no later than 5:00 p.m. (Vancouver time) on October 16, 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><B><I>Liability on Default.</I></B> No Underwriter shall be liable to the Company under this section with
respect to a default by any of the other Underwriters.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company agrees that the Underwriters are acting severally and not jointly (or jointly and severally) in performing their respective obligations
under this Agreement and that no Underwriter shall be liable for any act, omission or conduct by any other Underwriter or another Underwriter&rsquo;s
duly registered broker-dealer affiliate in the United States or any Selling Firm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(4)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B><I>Distribution
in Canada.</I></B> No Underwriter that is a non-resident for purposes of the ITA will render any services under this Agreement in Canada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(5)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Each
Underwriter, severally and not jointly, covenants with the Company not to take any action that would result in the Company being
required to file with the SEC pursuant to Rule&nbsp;433-(d)&nbsp;under the Securities Act a free writing prospectus prepared by or
on behalf of such Underwriter that otherwise would not be required to be filed by the Company thereunder but for the action of the
Underwriter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;10&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Indemnification</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">The Company (referred to in this Section&nbsp;10 as the (&ldquo;<B>Indemnifying Party</B>&rdquo;)) agrees
to indemnify and save harmless each of the Underwriters, CF US and their respective affiliates and each of their respective directors,
officers, partners, members, employees, shareholders and agents, and each person, if any, who controls the Underwriters within the meaning
of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act (each referred to in this Section&nbsp;10 as an &ldquo;<B>Indemnified
Party</B>&rdquo;) from and against all liabilities, claims, losses (other than loss of profits in connection with the distribution of
the Offered Shares), actions, suits, proceedings, charges, reasonable costs, damages and reasonable expenses which an Indemnified Party
suffers or incurs or is subject to, including all amounts paid to settle actions or satisfy judgments or awards and all reasonable legal
fees and expenses that may be incurred in advising with respect to investigating or defending any Claim, in any way caused by, or arising
directly or indirectly from, or in consequence of:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any information or statement contained in the Registration Statement, the Prospectuses, any Issuer Free
Writing Prospectus or any Supplementary Material related thereto, or in any certificate or other document of the Company or of any officer
of the Company or any of its Material Subsidiaries delivered hereunder or pursuant hereto which contains or is alleged to contain a misrepresentation;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any omission or alleged omission to state in the Registration Statement, the Prospectuses, any Issuer
Free Writing Prospectus, any marketing materials or any Supplementary Material related thereto, or any certificate or other document of
the Company or any officer of the Company or any of the Material Subsidiaries delivered hereunder or pursuant hereto any material fact,
required to be stated therein or necessary to make any statement therein not misleading in light of the circumstances under which it was
made;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any order made or any inquiry, investigation or proceedings commenced or threatened by any securities
commission, stock exchange or other Governmental Authority based upon any actual or alleged untrue statement, omission or misrepresentation
in the Registration Statement, the Prospectuses, any Issuer Free Writing Prospectus, any marketing materials or any Supplementary Material
or based upon any actual or alleged failure to comply with Canadian Securities Laws or U.S. Securities Laws, preventing or restricting
the trading in of the Firm Shares or Additional Shares or the distribution of the Offered Shares or any other securities of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the non-compliance or alleged non-compliance by the Company with any requirement of Canadian Securities
Laws or U.S. Securities laws in any of the Qualifying Jurisdictions or in the United States or any state therein in connection with the
transactions herein contemplated including the Company&rsquo;s non-compliance or alleged non-compliance with any statutory requirement
to make any document available for inspection; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">any breach of any representation or warranty of the Company contained herein or in any certificate or
other document of the Company or of any officers of the Company or any of the Material Subsidiaries delivered hereunder or pursuant hereto
or the failure of the Company to comply with any of its obligations hereunder,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">provided, however, that the foregoing
indemnity (i)&nbsp;shall not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement
or omission or alleged untrue statement or omission made solely in reliance upon and in conformity with written information relating to
the Underwriters or regarding securities laws and available offering exemptions in jurisdictions other than Canada and the United States
furnished to the Company by the Underwriters expressly for use in the Prospectus Supplements or Time of Sale Prospectus and set forth
in the &ldquo;Plan of Distribution&rdquo; section of the Prospectus Supplements or Time of Sale Prospectus and under &ldquo;Notice to
Investors&rdquo;, any Issuer Free Writing Prospectus or any Supplementary Materials and (ii)&nbsp;shall cease to apply if and to the extent
that a court of competent jurisdiction in a final judgment from which no appeal can be made or a Governmental Authority in a final ruling
from which no appeal can be made determines that any loss, liability, claim, damage or expense resulted primarily and directly from the
fraud, gross negligence, willful misconduct or bad faith of the Indemnified Party claiming indemnity. For greater certainty, the Company
and the Underwriters agree that they do not intend that any failure by the Underwriters to conduct such reasonable investigation as necessary
to provide the Underwriters with reasonable grounds for believing the applicable document contained no misrepresentation shall constitute
 &ldquo;gross negligence&rdquo; or &ldquo;willful misconduct&rdquo; for purposes of this Section&nbsp;10 or otherwise disentitle the Underwriters
from indemnification hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">If any matter or thing contemplated by this Section&nbsp;10 (any such matter or thing being hereinafter
referred to as a &ldquo;<B>Claim</B>&rdquo;) is asserted against an Indemnified Party, the Indemnified Party shall notify the Indemnifying
Party as soon as practicable, of such Claim to the extent allowable by Applicable Law (provided, however, that failure to provide such
notice shall not affect the Indemnified Party&rsquo;s right to indemnification hereunder, except (and only) to the extent of material
prejudice (through the forfeiture of substantive rights and defenses) to the Indemnifying Party therefrom) and the Indemnifying Party
shall be entitled (but not required) to assume the defence of any suit, action or proceeding brought to enforce such Claim; provided,
however, that the defence shall be conducted through legal counsel acceptable to the Indemnified Party and that no admission of liability
or settlement of any such Claim may be made by the Indemnifying Party or the Indemnified Party without the prior written consent of the
other.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">In any such Claim, the Indemnified Party shall have the right to retain separate counsel to act on its
behalf provided that the fees and disbursements of such counsel shall be paid by the Indemnified Party unless:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Indemnifying Party fails to assume the defence of such Claim on behalf of the Indemnified Party within
five (5)&nbsp;business days of receiving detailed notice thereof or, having assumed such defence, has failed to engage counsel promptly
or who is acceptable to the Indemnified Parties, or has failed to pursue it diligently;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of the other
counsel; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the named parties to the Claim (including any added, third parties or interpleaded parties) include the
Indemnifying Party, and the Indemnifying Parties have been advised by counsel (including internal counsel) that there are legal defences
available to such Indemnified Party that are different or in addition to those available to the Indemnifying Party, that representation
of the Indemnified Party by counsel for the Indemnifying Party is inappropriate as a result of the potential or actual conflicting interests
of those represented, or where in such Indemnified Party&rsquo;s reasonable judgment, the Claim gives rise to a conflict of interest between
the Indemnifying Party and such Indemnified Party;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">in each of cases Section&nbsp;10(3)(a),
Section&nbsp;10(3)(b)&nbsp;and Section&nbsp;10(3)(c), the Indemnifying Party will not have the right to assume the defence of the suit
on behalf of such Indemnified Party, but the Indemnifying Party will be liable to pay the fees and expenses of separate counsel for all
Indemnified Parties and, in addition, of local counsel in each applicable jurisdiction. Notwithstanding the foregoing, no settlement may
be made by an Indemnified Party without the prior written consent of the Indemnifying Party, which consent will not be unreasonably withheld,
conditioned or delayed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;11&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Contribution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
order to provide for a just and equitable contribution in circumstances in which the indemnity provided in Section&nbsp;10 would otherwise
be available in accordance with its terms but is, for any reason, held to be unavailable to or unenforceable by the Indemnified Party
or enforceable otherwise than in accordance with its terms or is insufficient to hold the Indemnified Party harmless, the Indemnifying
Party shall contribute to the aggregate of all claims, expenses, costs and liabilities and all losses (other than loss of profits in connection
with the distribution of the Offered Shares) of the nature contemplated in this Section&nbsp;11 and suffered or incurred by the Indemnified
Parties in such proportions as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriters
on the other hand from the distribution of the Offered Shares as well as the relative fault of the parties in connection with the Claim
or Claims which resulted in such claims, expenses, costs, damages, liabilities or losses, as well as any other equitable considerations
determined by a court of competent jurisdiction; provided that: (i)&nbsp;no Underwriter shall in any event be liable to contribute, in
the aggregate, any amount in excess of the aggregate fee or any portion thereof actually received by such Underwriter hereunder; and (ii)&nbsp;no
party who has been determined by a court of competent jurisdiction in a final judgment that has become non-appealable to have engaged
in any fraud, fraudulent misrepresentation, wilful misconduct, gross negligence or bad faith in connection with the Claim or Claims which
resulted in such claims, expenses, costs, damages, liabilities or losses shall be entitled to claim contribution from any person who has
not been so determined to have engaged in such fraud, fraudulent misrepresentation, wilful misconduct, gross negligence or bad faith in
connection with such Claim or Claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
rights of contribution and indemnity provided in this Section&nbsp;11 shall be in addition to and not in derogation of any other right
to contribution and indemnity which the Underwriters may have by statute or otherwise at law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
Underwriters&rsquo; obligations to contribute pursuant to this Section&nbsp;11 are several, and not joint, in proportion to their respective
underwriting commitments as set forth opposite their respective names in Section&nbsp;18(1)&nbsp;hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(4)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>In
the event that any Company Indemnifying Party is held to be entitled to contribution from the Underwriters under the provisions of any
Applicable Law, the Company Indemnifying Party shall be limited to contribution in an amount not exceeding the lesser of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the portion of the full amount of the loss or liability giving rise to such contribution for which the
Underwriters are responsible, as determined above; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify">the amount of the aggregate fee actually received by the Underwriters from the Indemnifying Party hereunder,
provided that no individual Underwriter shall be required to contribute more than the fee actually received by such Underwriter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(5)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
the Underwriters have reason to believe that a claim for contribution may arise, they shall give the Indemnifying Party notice thereof
in writing, but failure to notify the Indemnifying Party shall not relieve the Indemnifying Party of any obligation which it may have
to the Underwriters under this Section&nbsp;11, except (and only) to the extent of material prejudice (through the forfeiture of substantive
rights and defenses) to the Indemnifying Party therefrom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(6)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>With
respect to Section&nbsp;10 and this Section&nbsp;11, the Company acknowledges and agrees that the Underwriters are contracting on their
own behalf and as agents for their respective affiliates, directors, officers, employees and agents, and each person, if any, controlling
any Underwriter or any of its subsidiaries and each shareholder of any Underwriter. Accordingly, the Company hereby constitutes the Underwriters
as agents for each person who is entitled to the covenants of the Company contained in Section&nbsp;10 and this Section&nbsp;11 and is
not a party hereto and the Underwriters agree to accept such agents and to hold in trust for and to enforce such covenants on behalf of
such persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;12&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Certain
Covenants of the Company.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company further covenants
and agrees with each Underwriter and CF US as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><B><I>Delivery of Registration Statement, Time of Sale Prospectus and
Prospectuses</I></B>. To the extent not available on EDGAR as it relates to the Registration Statement, the Time of Sale Prospectus, the
U.S. Prospectus and any supplements and amendments thereto, the Company shall furnish and deliver to the Underwriters, in such cities
as the Underwriters may reasonably and lawfully request without charge, as soon as practicable after the Registration Statement becomes
effective (as to the U.S. Prospectus) or after the filing thereof (as to the Canadian Prospectus), and during the period mentioned in
Section&nbsp;12(e) or Section&nbsp;12(f) below, as many commercial copies, or originally signed versions, of the Time of Sale Prospectus,
the Prospectuses and any supplements and amendments thereto or to the Registration Statement as the Lead Underwriter on behalf of the
Underwriters may reasonably request for the purposes contemplated by the Securities Act and the Canadian Securities Laws. As used herein,
the term &ldquo;<B>Prospectus Delivery Period</B>&rdquo; means such period of time after the first date of the public offering of the
Offered Shares and ending on the completion of the distribution of the offering of the Offered Shares, during which time a preliminary
prospectus, preliminary prospectus supplement or a prospectus relating to the Offered Shares is required by applicable Canadian Securities
Laws or U.S. Securities Laws to be delivered (or required to be delivered but for Rule 172 under the Securities Act) in connection with
sales of the Offered Shares by any Underwriter or dealer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><B><I>Review of Proposed Amendments and Supplements</I></B>. Prior
to amending or supplementing the Registration Statement, the Time of Sale Prospectus, the Canadian Prospectus or the U.S. Prospectus (including
any amendment or supplement through incorporation by reference of any document), the Company shall furnish to the Lead Underwriter for
review, a reasonable amount of time prior to the proposed time of filing or use thereof, a copy of each such proposed amendment or supplement,
and the Company shall not file or use any such proposed amendment or supplement without the Lead Underwriter&rsquo;s consent which shall
not be unreasonably delayed, conditioned or withheld.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><B><I>Free Writing Prospectuses</I></B>. The Company shall furnish
to the Lead Underwriter for review, a reasonable amount of time prior to the proposed time of filing or use thereof, a copy of each proposed
free writing prospectus or any amendment or supplement thereto to be prepared by or on behalf of, used by, or referred to by the Company
and the Company shall not file, use or refer to any proposed free writing prospectus or any amendment or supplement thereto without the
Lead Underwriter&rsquo;s consent which shall not be unreasonably delayed, conditioned or withheld. The Company shall furnish to each Underwriter,
without charge, as many copies of any free writing prospectus prepared by or on behalf of, or used by, the Company as such Underwriter
may reasonably request. If during the Prospectus Delivery Period there occurred or occurs an event or development as a result of which
any free writing prospectus prepared by or on behalf of, used by, or referred to by the Company conflicted or would conflict with the
information contained in the Registration Statement or included or would include an untrue statement of a material fact or, omitted or
would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances prevailing at
that subsequent time, not misleading, the Company shall promptly amend or supplement such free writing prospectus to eliminate or correct
such conflict or so that the statements in such free writing prospectus as so amended or supplemented will not include an untrue statement
of a material fact or, omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
prevailing at such subsequent time, not misleading, as the case may be; provided, however, that prior to amending or supplementing any
such free writing prospectus, the Company shall furnish to the Lead Underwriter for review, a reasonable amount of time prior to the proposed
time of filing or use thereof, a copy of such proposed amended or supplemented free writing prospectus and the Company shall not file,
use or refer to any such amended or supplemented free writing prospectus without the Lead Underwriter&rsquo;s consent which shall not
be unreasonably delayed conditioned or withheld.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><B><I>Filing of Underwriter Free Writing Prospectuses</I></B>. The Company shall not take any action that
would result in an Underwriter or the Company being required to file with the SEC pursuant to Rule&nbsp;433(d)&nbsp;under the Securities
Act a free writing prospectus prepared by or on behalf of the Underwriter that the Underwriter otherwise would not have been required
to file thereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><B><I>Amendments and Supplements to Time of Sale Prospectus</I></B>. If any time prior to the Closing
Date any event shall occur or condition shall exist as a result of which the Time of Sale Prospectus, as amended or supplemented, would
include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances when delivered to a prospective purchaser, not misleading, or if, in the reasonable opinion of counsel
for the Company or Underwriters, it is necessary to amend or supplement the Time of Sale Prospectus to comply with Applicable Law, including
the Securities Act, the Company shall (subject to Section&nbsp;12(b)&nbsp;and Section&nbsp;12(c)) forthwith prepare, file with the SEC
and furnish, at its own expense, to the Underwriters and to any dealer upon request, either amendments or supplements to the Time of Sale
Prospectus so that the statements in the Time of Sale Prospectus as so amended or supplemented will not include an untrue statement of
a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
when delivered to a prospective purchaser, not misleading, or so that the Time of Sale Prospectus, as amended or supplemented, will comply
with Applicable Law including the Securities Act and the Canadian Securities Laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify"><B><I>Securities Act Compliance</I></B>. The Company will prepare the
Canadian Prospectus Supplement and the U.S. Prospectus Supplement in a form approved by the Lead Underwriter and (i) will file the Canadian
Prospectus Supplement with the Principal Regulator in accordance with the Shelf Procedures as soon as practicably possible, and in any
event, not later than 5:00 p.m. (Toronto time) on October 11, 2023 and (ii) will file the U.S. Prospectus Supplement with the SEC not
later than the SEC&rsquo;s close of business on the first business day following the day on which the filing of the Canadian Prospectus
Supplement is made with the Principal Regulator. After the date of this Agreement, the Company shall promptly advise the Lead Underwriter
in writing (i) of the receipt of any comments of, or requests for additional or supplemental information or other communication from,
any Canadian Commission or the SEC with respect to the Canadian Prospectus or the Registration Statement, (ii) of any request by any Canadian
Commission to amend or supplement the Canadian Prospectus or for additional information or of any request by the SEC to amend the Registration
Statement or to amend or supplement the U.S. Prospectus or for additional information, (iii) of the time and date of any filing of any
post-effective amendment to the Registration Statement or any amendment or supplement to the Preliminary Prospectuses, the Time of Sale
Prospectus, any free writing prospectus or the Prospectuses, (iv) of the time and date that any post-effective amendment to the Registration
Statement becomes effective, (v) of the issuance by the SEC or any Canadian Commission, as applicable, of any stop order suspending the
effectiveness of the Registration Statement, the U.S. Prospectus or the Canadian Prospectus or any post-effective amendment thereto or
any order directed at any document incorporated by reference in the Registration Statement, the U.S. Prospectus or the Canadian Prospectus
or any amendment or supplement thereto or any order preventing or suspending the use of the Preliminary Prospectus, the Time of Sale Prospectus,
any free writing prospectus, any marketing materials, the U.S. Prospectus or the Canadian Prospectus or any amendment or supplement thereto
or any post-effective amendment to the Registration Statement, or the suspension of the qualification of the Offered Shares for sale in
any jurisdiction, or of any proceedings to remove, suspend or terminate from listing or quotation the Common Shares from the TSX or NYSE
American, or of the threatening or initiation of any proceedings for any of such purposes, and (vi) of the issuance by any Governmental
Authority of any order having the effect of ceasing or suspending the distribution of the Offered Shares, or of the institution or, to
the knowledge of the Company, threatening of any proceedings for any such purpose. If the SEC or any Canadian Commission shall enter any
such stop order at any time, the Company will use best efforts to obtain the lifting of such order at the earliest possible moment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"><B><I>Amendments and Supplements to the Prospectuses and Other Securities
Act Matters</I></B>. The Company will comply with the U.S. Securities Laws and the Canadian Securities Laws so as to permit the completion
of the distribution of the Offered Shares during the Prospectus Delivery Period as contemplated in this Agreement and the Prospectuses.
If any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Prospectuses so that the Prospectuses
do not include a misrepresentation or an untrue statement of a material fact or omit to state a material fact necessary in order to make
the statements therein, in the light of the circumstances when the U.S. Prospectus or the Canadian Prospectus is delivered to a purchaser,
not misleading, or if during the Prospectus Delivery Period in the reasonable opinion of the Company, the Lead Underwriter or counsel
for the Company or Underwriters it is otherwise necessary to amend or supplement the Prospectuses to comply with U.S. Securities Laws
or Canadian Securities Laws, the Company agrees (subject to Section&nbsp;12(b) and Section&nbsp;12(c)) to promptly prepare, file with
the SEC and the Canadian Commissions and furnish at its own expense to the Underwriters and to dealers, amendments or supplements to the
Prospectuses so that the statements in the Prospectuses as so amended or supplemented will not include a misrepresentation or an untrue
statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
when the U.S. Prospectus or the Canadian Prospectus is delivered to a purchaser, not be misleading or so that the Prospectuses, as amended
or supplemented, will comply with the U.S. Securities Laws and the Canadian Securities Laws, as applicable. Neither the Lead Underwriter&rsquo;s
consent to, nor delivery of, any such amendment or supplement shall constitute a waiver of any of the Company&rsquo;s obligations under
Section&nbsp;12(b) or Section&nbsp;12(c).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify"><B><I>Lock-Up Agreements</I></B>. The Company shall use its commercially
reasonable efforts to cause each of the Company&rsquo;s directors and officers to execute and deliver to the Lead Underwriter a lock-up
agreement in the form of Schedule &ldquo;D&rdquo; hereto on or before the Closing Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><B><I>Stock Exchange Listing. </I></B>The Company shall use its best
efforts to obtain the conditional listing of the Offered Shares on the TSX by the Closing Time, subject only to the official notice of
issuance, and the Company will use its best efforts to have the Offered Shares listed and admitted and authorized for trading on the NYSE
American by the Closing Time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify"><B><I>Blue Sky Compliance</I></B>. The Company shall cooperate with
the Lead Underwriter and counsel for the Underwriters to qualify or register the Offered Shares for sale under (or obtain exemptions from
the application of) U.S. Securities Laws, Canadian Securities Laws, or other foreign laws of jurisdictions designated by the Lead Underwriter,
shall comply with such laws and shall continue such qualifications, registrations and exemptions in effect so long as required for the
distribution of the Offered Shares. The Company shall not be required to qualify as a foreign corporation or to take any action that would
subject it to general service of process in any jurisdiction in which it is not presently qualified or where it would be subject to taxation
as a foreign corporation (except service of process with respect to the offering and sale of the Offered Shares). The Company will advise
the Lead Underwriter promptly of the suspension of the qualification or registration of (or any exemption relating to) the Offered Shares
for offering, sale or trading in any jurisdiction or any initiation or threat of any proceeding for any such purpose, and in the event
of the issuance of any order suspending such qualification, registration or exemption, the Company shall use its best efforts to obtain
the withdrawal thereof at the earliest possible moment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify"><B><I>Use of Proceeds</I></B>. The Company shall apply the net proceeds
from the sale of the Firm Shares and the Additional Shares sold by it in the manner described under the caption &ldquo;<I>Use of Proceeds</I>&rdquo;
in the Prospectus Supplements.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify"><B><I>Transfer Agent</I></B>. The Company shall engage and maintain, at its expense, a registrar and transfer
agent for the Firm Shares and the Additional Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify"><B><I>Earnings Statement.</I></B> As soon as practicable, but in any
event no later than 18 months after the date of this Agreement, the Company will make generally available to its security holders and
to the Lead Underwriter an earnings statement (which need not be audited) covering a period of at least 12 months beginning with the first
fiscal quarter of the Company commencing after the date of this Agreement which shall satisfy the provisions of Section 11(a) of the Securities
Act and the rules and regulations of the SEC thereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify"><B><I>Periodic Reporting Obligations</I></B>. During the period when the U.S. Prospectus is required to
be delivered under the Securities Act, the Company shall file, on a timely basis, with the SEC and NYSE American all reports and documents
required to be filed under the Exchange Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(o)</FONT></TD><TD STYLE="text-align: justify">Agreement Not to Issue, Offer or Sell Additional Shares<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
Except as contemplated by this Agreement, the Company will not, without the prior written consent of the Lead Underwriter (not to be unreasonably
withheld) on behalf of the Underwriters, directly or indirectly issue, offer, pledge, sell, contract to sell, contract to purchase, purchase
any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer, lend or dispose of directly or indirectly,
any Common Shares or securities or other financial instruments convertible into or having the right to acquire Common Shares or enter
into any agreement or arrangement under which the Company would acquire or transfer to another, in whole or in part, any of the economic
consequences of ownership of Common Shares, whether that agreement or arrangement may be settled by the delivery of Common Shares or other
securities or cash, or agree to become bound to do so, or disclose to the public any intention to do so, during the period from the date
hereof and ending 90 days following the Closing Date; provided that, notwithstanding the foregoing, the Company may (i) grant of options
or other securities (including restricted stock units and deferred stock units) in the normal course pursuant to the Company&rsquo;s employee
stock option plan or other equity compensation plans, and issue common shares upon the exercise of such options or vesting of such securities,
(ii) issue equity securities pursuant to the exercise, vesting or conversion, as the case may be, of any options, restricted stock units,
warrants, special warrants or other convertible securities of the Company outstanding on the date hereof; and (iii) the issuance of equity
securities in connection with one or more <I>bona fide </I>non-financing transactions with third parties. In addition, from the date hereof
and ending 90 days following the Closing Date, the Company shall not file a prospectus under Canadian Securities Laws or a registration
statement under the Securities Act in connection with any transaction by the Company or any person that is prohibited pursuant to the
foregoing, except as pursuant to the Offering and for registration statements on Form S-8 relating to employee benefit plans. Notwithstanding
the foregoing, the Company shall be permitted to file a new base shelf prospectus during the 90 period following the Closing Date.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify"><B><I>Investment Limitation</I></B>. The Company shall not invest or otherwise use the proceeds received
by the Company from its sale of the Offered Shares in such a manner as would require the Company or any of its Material Subsidiaries to
register as an investment company under the Investment Company Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify"><B><I>No Stabilization or Manipulation</I></B>; <I>Compliance with
Regulation M</I>. The Company will not take, directly or indirectly, any action designed to or that might be reasonably expected to cause
or result in stabilization or manipulation of the price of the Common Shares or any other reference security, whether to facilitate the
sale or resale of the Offered Shares or otherwise, and the Company will, and shall cause each of its affiliates to, comply with all applicable
provisions of Regulation M. If the limitations of Rule 102 of Regulation M (&ldquo;<B>Rule 102</B>&rdquo;) do not apply with respect to
the Offered Shares or any other reference security pursuant to any exception set forth in Section (d) of Rule 102, then promptly upon
notice from the Lead Underwriter (or, if later, at the time stated in the notice), the Company will, and shall cause each of its affiliates
to, comply with Rule 102 as though such exception were not available but the other provisions of Rule 102 (as interpreted by the SEC)
did apply.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify"><B><I>Press Releases/Announcements</I></B>. Prior to the Closing Date,
the Company shall not, without the Lead Underwriter&rsquo;s prior written consent, which shall not be unreasonably delayed, conditioned
or withheld, issue any press releases or other communications directly or indirectly and shall not hold any press conferences with respect
to the Company or any Material Subsidiaries, the financial condition, results of operations, business, properties, assets, or liabilities
of the Company or any Material Subsidiaries, or with respect to the offering of the Offered Shares. Notwithstanding the foregoing, nothing
contained in this subsection shall prevent the Company from issuing a press release forthwith in the event that the Company&rsquo;s counsel
advises that it is necessary in order to comply with Applicable Law or the rules or requirements of the TSX or NYSE American, or from
issuing a press release or holding an analyst call in the normal course in connection with the release of financial results.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Lead Underwriter, on behalf of the Underwriters, may, in its sole
discretion, waive in writing the performance by the Company of any one or more of the foregoing covenants or extend the time for their
performance. For greater certainty, the Lead Underwriter shall not unilaterally increase the timing in respect of the covenants in Section
12(h) and (o).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;13&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;All
Terms to be Conditions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company agrees that the
conditions contained in this Agreement will be complied with insofar as the same relate to acts to be performed or caused to be performed
by the Company. Any breach or failure to comply with any of the conditions set out in this Agreement shall entitle any of the Underwriters
to terminate their obligation to purchase the Offered Shares, by written notice to that effect given to the Company at or prior to the
Closing Time or the Option Closing Time, as applicable. It is understood that the Underwriters may waive, in whole or in part, or extend
the time for compliance with, any of such terms and conditions without prejudice to the rights of the Underwriters in respect of any such
terms and conditions or any other or subsequent breach or non-compliance, provided that to be binding on any Underwriter any such waiver
or extension must be in writing and signed by such Underwriter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;14&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Termination
of this Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Each
Underwriter shall also be entitled to terminate its obligation to purchase the Offered Shares by written notice to that effect to the
Company at or prior to the Closing Time or the Option Closing Time, as applicable, if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">there should occur any material change (actual, anticipated, contemplated or threatened, financial or
otherwise) in the business, affairs, operations, assets, liabilities (contingent or otherwise), capital or control of the Company or a
change in any material fact or any new material fact (other than a material fact related solely to any of the Underwriters as provided
by the Underwriters in connection with and solely for the purposes of inclusion in any Prospectus), or the Underwriters become aware of
any undisclosed material information (other than information related solely to any of the Underwriters as provided by the Underwriters
in connection with and solely for the purposes of inclusion in any Prospectus), which in the opinion of an Underwriter, acting reasonably,
could be expected to have a significant adverse effect on the market price or value of the Offered Shares; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">there should develop, occur or come into effect or existence, or be
announced, any event, action, state, condition or major financial occurrence, catastrophe, accident, natural disaster, public protest,
war or act of terrorism of national or international consequence, including by way of the COVID-19 pandemic to the extent there are material
adverse developments related thereto after October 11, 2023 or similar event, or any new law or regulation or a change thereof or other
occurrence of any nature whatsoever which, in the opinion of an Underwriter, acting reasonably, seriously adversely effects, or involves,
or is expected to seriously adversely effect, or involve, financial markets in Canada or the United States generally or the business,
operations, assets, liabilities (contingent or otherwise), capital or control of the Company; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">there should occur or commence or be announced or threatened any inquiry, action, suit, investigation
or other proceeding (whether formal or informal) or any order or ruling is issued under or pursuant to any statute of Canada or the United
States or of any province or territory of Canada, or state of the United States (including, without limitation, the Commission, the Canadian
Commissions, the TSX, NYSE American or the SEC) (other than any such inquiry, action, suit, investigation or other proceeding or order
relating solely to any of the Underwriters), which in the reasonable opinion of an Underwriter would be expected to operate to prevent
or materially restrict trading in or distribution of the Offered Shares or would have a significant adverse effect on the market price
or value of the Offered Shares; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the Company is in material breach of any term, condition or covenant of this Agreement or any representation
or warranty given by the Company in this Agreement becomes false in any material respect; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="text-align: justify">the Closing has not occurred by 5:00 p.m. (Toronto time) on October
16, 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
this Agreement is terminated by any of the Underwriters pursuant to Section&nbsp;14(1), there shall be no further liability on the part
of such Underwriter or of the Company to such Underwriter, except in respect of any liability which may have arisen or may thereafter
arise under Section&nbsp;10, Section&nbsp;11 and Section&nbsp;16.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
right of the Underwriters or any of them to terminate their respective obligations under this Agreement is in addition to such other remedies
as they may have in respect of any default, act or failure to act of the Company in respect of any of the matters contemplated by this
Agreement. A notice of termination given by one Underwriter under this Section&nbsp;14 shall not be binding upon the other Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;15&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Conditions
of Closing and Option Closing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
obligations of the Underwriters under this Agreement are subject to the accuracy of the representations and warranties of the Company
contained in this Agreement both as of the date of this Agreement, the Closing Time and the Option Closing Time, the performance by the
Company of its obligations under this Agreement and receipt by the Underwriters, at the Closing Time or Option Closing Time, as applicable,
of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">a favourable legal opinion, dated the Closing Date and Option Closing Date, as applicable, from Blake,
Cassels and Graydon LLP, in its capacity as the Company&rsquo;s Canadian counsel, as to matters of Canadian federal and provincial law
(who may rely on the opinions of local counsel acceptable to them and to the Underwriters&rsquo; counsel as to matters governed by the
laws of jurisdictions in Canada other than the Provinces of British Columbia, Ontario, Alberta and Qu&eacute;bec), addressed to the Underwriters
and the Underwriters&rsquo; counsel, such matters to be as set out in the attached Schedule &ldquo;B&rdquo; subject to customary limitations,
assumptions and qualifications;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a favourable legal opinion, dated the Closing Date and the Option Closing Date, as applicable, from Troutman
Pepper Hamilton Sanders LLP, in its capacity as the Company&rsquo;s U.S. counsel, addressed to the Underwriters, to the effect set forth
in Schedule &ldquo;C&rdquo; (subject to customary limitations, assumptions and qualifications), which shall be accompanied by a letter
addressed to the Underwriters to the effect set forth in Schedule &ldquo;C&rdquo;;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">if required by </FONT>the Lead Underwriter, a letter, dated the Closing
Date and the Option Closing Date, as applicable, from McMillan LLP, the Underwriters&rsquo; Canadian and U.S. counsel, addressed to the
Underwriters, to the effect that such counsel has participated in the preparation of the Registration Statement and the U.S. Prospectus
(excluding the Documents Incorporated by Reference) and, subject to customary qualifications, confirming that, although such counsel has
not undertaken to investigate or verify independently, and does not assume responsibility for, the accuracy or completeness of the statements
contained in any of them, based upon such participation (and relying as to factual matters to the extent such counsel deems reasonable
on officers, employees and other representatives of the Company), no facts have come to such counsel&rsquo;s attention which have caused
such counsel to believe that the Registration Statement, at the time it became effective, contained an untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading, or
that the U.S. Prospectus, as of its date and as of the Closing Date and the Option Closing Date, as applicable, contained an untrue statement
of a material fact or omitted to state a material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading (in each case, other than the financial statements and other financial and statistical information,
included or incorporated by reference therein, as to which such counsel expresses no belief);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">a favourable legal opinion, dated the Closing Date and Option Closing Date, as applicable, from the Company's
counsel, in form and substance satisfactory to the Underwriters, regarding the Material Subsidiaries, with respect to the following: (i)&nbsp;the
incorporation and existence of each Material Subsidiary under the laws of its jurisdiction of incorporation, (ii)&nbsp;as to the registered
ownership of the issued and outstanding shares of each Material Subsidiary, and (iii)&nbsp;that each Material Subsidiary has all requisite
corporate power under the laws of its jurisdiction of incorporation to carry on its business as presently carried on and own its properties;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">a favourable legal opinion, dated the Closing Date and Option Closing Date, as applicable, in form and
substance satisfactory to the Underwriters, from MLT Aikins LLP, as Saskatchewan counsel to the Company, as to title matters in respect
of the Material Properties;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">certificates or evidence of registration representing, in the aggregate, the Firm Shares (and Additional
Shares, if applicable) in the name of CDS or its nominee or in such other name(s)&nbsp;as the Lead Underwriter on behalf of the Underwriters
shall have directed;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">from KPMG LLP, independent public or certified public accountants for the Company, (i)&nbsp;&ldquo;long-form
comfort letters&rdquo; dated the date of the Prospectus Supplement and addressed to the Underwriters and CF US and the board of directors
of the Company, in form and substance reasonably satisfactory to the Lead Underwriter, containing statements and information of the
type ordinarily included in accountant&rsquo;s &ldquo;<I>comfort letters</I>&rdquo; to underwriters which letters shall cover with respect
to the Financial Statements, including without limitation, certain financial and accounting disclosures contained or incorporated by reference
in the Registration Statement, the Preliminary Prospectuses, the Prospectuses and the Prospectus Supplements, and (ii)&nbsp;confirmation
that they are independent public, certified public or chartered accountants as required by the Securities Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">on the Closing Date and Option Closing Date, as applicable, a letter from KPMG LLP, independent public
or certified public accountants for the Company, dated such date, in form and substance reasonably satisfactory to the Lead Underwriter,
to the effect that they reaffirm the statements made in the letters furnished by them pursuant to Section&nbsp;15(1)(g), except that the
specified date referred to therein for the carrying out of procedures shall be no more than two (2)&nbsp;business days prior to the Closing
Date;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the payment of the Underwriting Fee in accordance with the terms of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">evidence satisfactory to the Lead Underwriter that the Offered Shares shall have been (A)&nbsp;listed
and admitted and authorized for trading on the NYSE American, and (B)&nbsp;conditionally approved for listing on the TSX, subject only
to the official notice of issuance;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">a certificate, dated the Closing Date and the Option Closing Date, as applicable, and signed on behalf
of the Company, but without personal liability, by the President and Chief Executive Officer and by the Chief Financial Officer of the
Company, or such other officers of the Company as may be reasonably acceptable to the Underwriters, certifying that: (i)&nbsp;the Company
has complied with all covenants and satisfied all terms and conditions hereof to be complied with and satisfied by the Company at or prior
to the Closing Time and the Option Closing Time, as applicable; (ii)&nbsp;all the representations and warranties of the Company contained
herein are true and correct as of the Closing Time and the Option Closing Time, as applicable with the same force and effect as if made
at and as of the Closing Time and the Option Closing Time, as applicable, after giving effect to the transactions contemplated hereby;
(iii)&nbsp;the Company is a &quot;reporting issuer&quot; or its equivalent under the securities laws of each of the Qualifying Jurisdictions
and eligible to use the Short Form&nbsp;Prospectus System under NI 44-101; (iv)&nbsp;there has been no material change relating to the
Company and its Subsidiaries, on a consolidated basis, since the date hereof which has not been generally disclosed, except for the offering
of the Offered Shares, and with respect to which the requisite material change statement or report has not been filed and no such disclosure
has been made on a confidential basis; and (v)&nbsp;that, to the best of the knowledge, information and belief of the persons signing
such certificate, after having made reasonable inquiries, no order, ruling or determination having the effect of ceasing or suspending
trading in the Common Shares or any other securities of the Company has been issued and no proceedings for such purpose are pending or
are contemplated or threatened;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">at the Closing Time or Option Closing Time, as applicable, certificates dated the Closing Date or the
Over-Allotment Option Closing Date, as applicable, signed on behalf of the Company, but without personal liability, by the President and
Chief Executive Officer of the Company or another officer acceptable to the Underwriters, acting reasonably, in form and content satisfactory
to the Underwriters, acting reasonably, with respect to the constating documents of the Company; the resolutions of the directors of the
Company relevant to the Offering, including the allotment, issue (or reservation for issue) and sale of the Firm Shares and Additional
Shares, the grant of the Over-Allotment Option, the authorization of this Agreement, the listing of the Firm Shares and Additional Shares,
on the TSX and NYSE American and transactions contemplated by this Agreement; and the incumbency and signatures of signing officers of
the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">at the Closing Time, the Company&rsquo;s directors and officers shall each have entered into lock-up agreements,
substantially in the form attached hereto as Schedule &ldquo;D&rdquo;;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">at the Closing Time or Option Closing Time, as applicable, a certificate of status (or equivalent) for
the Company and each of the Material Subsidiaries dated within one (1)&nbsp;Business Day (or such earlier or later date as the Underwriters
may accept) of the Closing Date; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(o)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">such other documents as the Underwriters or counsel to the Underwriters
may reasonably require; and all proceedings taken by the Company in connection with the issuance and sale of the Offered Shares (and Additional
Shares, if applicable) shall be satisfactory in form and substance to </FONT>the Lead Underwriter and counsel for the Underwriters,
acting reasonably.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;16&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
Company will pay all expenses and fees in connection with the Offering, including, without limitation: (i)&nbsp;all expenses of or incidental
to the creation, issue, sale or distribution of the Offered Shares and the filing of the Prospectus Supplements, marketing materials and
any Supplementary Material; (ii)&nbsp;the fees and expenses of the Company&rsquo;s legal counsel; (iii)&nbsp;all costs incurred in connection
with the preparation of documentation relating to the Offering; and (iv)&nbsp;all reasonable and direct and documented out-of-pocket expenses
of the Underwriters and (v)&nbsp;all reasonable and documented fees and disbursements of the Underwriters&rsquo; legal counsel to a maximum
of $90,000</FONT>, plus applicable taxes and disbursements ((iv)&nbsp;and (v), collectively, the &ldquo;<B>Underwriters&rsquo; Expenses</B>&rdquo;).
All Underwriters&rsquo; Expenses incurred by the Underwriters, or on their behalf, shall be payable by the Company immediately upon receiving
an invoice therefor from the Underwriters and shall be payable whether or not an offering is completed. At the option of the Lead Underwriter,
such fees and expenses may be deducted from the gross proceeds otherwise payable to the Company on the closing of the Offering. Regardless
of whether the transactions contemplated herein are completed or not, the Company will pay the Underwriters&rsquo; Expenses, as described
in this Section&nbsp;16.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;17&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No
Advisory or Fiduciary Relationship</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company acknowledges and
agrees that (a)&nbsp;the purchase and sale of the Offered Shares pursuant to this Agreement, including the determination of the Offering
Price of the Offered Shares and any related discounts and commissions, is an arm&rsquo;s-length commercial transaction between the Company,
on the one hand, and the several Underwriters, on the other hand, (b)&nbsp;in connection with the Offering and the process leading to
such transaction each Underwriter is and has been acting solely as a principal and is not the agent or fiduciary of the Company or its
shareholders, creditors, employees or any other party, (c)&nbsp;no Underwriter has assumed or will assume an advisory or fiduciary responsibility
in favour of the Company with respect to the Offering or the process leading thereto (irrespective of whether such Underwriter has advised
or is currently advising the Company on other matters) and no Underwriter has any obligation to the Company with respect to the Offering
except the obligations expressly set forth in this Agreement, (d)&nbsp;the Underwriters and their respective affiliates may be engaged
in a broad range of transactions that involve interests that differ from those of the Company, and (e)&nbsp;the Underwriters have not
provided any legal, accounting, regulatory or tax advice with respect to the Offering and the Company has consulted its own legal, accounting,
regulatory and tax advisors to the extent it deems appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;18&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Obligation
to Purchase.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Subject
to the terms of this Agreement, the Underwriters&rsquo; obligations under this Agreement to purchase the Offered Shares shall be several
and not joint and several and the liability of each of the Underwriters to purchase the Offered Shares shall be limited to the following
percentages of the purchase price paid for the Offered Shares:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif; margin-left: 1in">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 81%; font-size: 10pt; text-align: left">Cantor Fitzgerald Canada Corporation</TD><TD STYLE="width: 2%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right">42.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Canaccord Genuity Corp.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">13.25</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Haywood Securities Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">13.25</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Raymond James Ltd.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">BMO Nesbitt Burns Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">7.25</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Scotia Capital Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">7.25</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cormark Securities Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">SCP Resource Finance LP</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2.00</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">100.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
any of the Underwriters fails to purchase its applicable percentage of the Offered Shares at the Closing Time or the Option Closing Time,
as the case may be, (a &ldquo;</FONT><B>Defaulting Underwriter</B>&rdquo;) and the percentage of Offered Shares that have not been purchased
by the Defaulting Underwriter represents 10% or less of the Offered Shares then the other Underwriters will be severally, and not jointly
and severally, obligated to purchase, on a pro rata basis to their respective percentages as aforesaid, all but not less than all of the
Offered Shares not purchased by the Defaulting Underwriter, and to receive the Defaulting Underwriter&rsquo;s portion of the Underwriting
Fee in respect thereof, and such non-defaulting Underwriters shall have the right, by notice to the Company, to postpone the Closing Date
or Option Closing Date, as the case may be, by not more than three Business Days to effect such purchase. In the event that the percentage
of Offered Shares that have not been purchased by a Defaulting Underwriter represents more than 10% of the aggregate Offered Shares, the
other Underwriters will have the right, but will not be obligated, to purchase all of the percentage of the Offered Shares which would
otherwise have been purchased by the Defaulting Underwriter; the Underwriters exercising such right will purchase such Offered Shares,
if applicable, pro rata to their respective percentages aforesaid or in such other proportions as they may otherwise agree. In the event
that such right is not exercised, the non-defaulting Underwriters shall be relieved of all obligations to the Company arising from such
default. Nothing in this section shall oblige the Company to sell to the Underwriters less than all of the Offered Shares or relieve from
liability to the Company any Underwriter which shall be so in default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font-size: 10pt; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;19&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Survival</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
representations, warranties, obligations and agreements of the Company and of the Underwriters contained herein or delivered pursuant
to this Agreement shall survive the purchase by the Underwriters of the Offered Shares and shall continue in full force and effect notwithstanding
any subsequent disposition by the Underwriters of the Offered Shares and the Underwriters </FONT>shall be entitled to rely on the representations
and warranties of the Company contained in or delivered pursuant to this Agreement notwithstanding any investigation which the Underwriters
may undertake or which may be undertaken on the Underwriters&rsquo; behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;20&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Notices.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">A</FONT>ny
notice to be given hereunder shall be in writing and may be given by facsimile or by hand delivery and shall, in the case of notice to
the Company, be addressed and faxed or delivered to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Denison Mines Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">40 University Avenue, Suite&nbsp;1100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Toronto, Ontario M5J 1T1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attention:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;David
Cates<BR>
Facsimile:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<I>[Redacted]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">with a copy to (such copy not to constitute notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Blake, Cassels&nbsp;&amp; Graydon LLP<BR>
Suite&nbsp;2600&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<BR>
595 Burrard Street<BR>
Vancouver, British Columbia V7X 1L3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attention:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Trisha
Robertson<BR>
Facsimile:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<I>[Redacted]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">and in the case of the Underwriters and CF US, c/o CFCC,
addressed and faxed or delivered to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Cantor Fitzgerald Canada
Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">181 University Avenue, Suite&nbsp;1500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Toronto, Ontario M5H 3M7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Attention:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Christopher
Craib and Graham Moylan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Facsimile:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<I>[Redacted]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 61; Value: 2 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font-size: 10pt; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Cantor Fitzgerald&nbsp;&amp;
Co.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">110 East 59<SUP>th</SUP>
Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">New York, NY 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Attention:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Legal
Department</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Facsimile:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<I>[Redacted]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">with a copy to (such copy not to constitute notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">McMillan LLP<BR>
Suite&nbsp;1500, Royal Centre&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<BR>
1055 West Georgia Street<BR>
Vancouver, British Columbia V6E 4N7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attention:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Michael
Taylor and Andrew Spencer<BR>
Facsimile:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<I>[Redacted]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company and the Underwriters
may change their respective addresses for notice by notice given in the manner referred to above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;21&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Actions
on Behalf of the Underwriters.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All steps which must or may be taken by the Underwriters in connection
with this Underwriting Agreement, with the exception of the matters contemplated by Section 10, Section&nbsp;13 and Section&nbsp;14, shall
be taken by the Lead Underwriter on the Underwriters&rsquo; behalf and the execution of the Agreement by the Underwriters shall constitute
the Company&rsquo;s authority for accepting notification of any such steps from, and for giving notice to, and for delivering any definitive
certificate(s) representing the Offered Shares to, or to the order of, the Lead Underwriter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><B>Section&nbsp;22&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Market
Stabilization</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the distribution
of the Offered Shares, the Underwriters (or any of them) may effect transactions which stabilize or maintain the market price of the Common
Shares at levels other than those which might otherwise prevail in the open market, but in each case as permitted by Applicable Securities
Laws. Such stabilizing transactions, if any, may be discontinued by the Underwriters at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><B>Section&nbsp;23&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Entire
Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any and all previous agreements
with respect to the purchase and sale of the Offered Shares, whether written or oral, are terminated and this Agreement constitutes the
entire agreement between the Company and the Underwriters with respect to the purchase and sale of the Offered Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><B>Section&nbsp;24&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Governing
Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement shall be governed
by and construed in accordance with the laws in force in the Province of Ontario and the federal laws of Canada applicable therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><B>Section&nbsp;25&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Time
of the Essence</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Time shall be of the essence
of this Agreement. This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original and
such counterparts together shall constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[the remainder of this
page is intentionally blank.]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the foregoing is in accordance
with your understanding and is agreed to by you, will you please confirm your acceptance by signing the enclosed copies of this letter
at the place indicated and returning the same to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Yours very truly,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>cantor fitzgerald canada corpORATION</B></FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">/s/ Elan Shevel</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elan Shevel</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&#8239;</FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Compliance Officer&#8239;&#8239;&#8239;</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom"><B>CANACCORD GENUITY CORP.</B></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">/s/ David Sadowski</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&#8239;</FONT></TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Sadowski&#8239;&#8239;&#8239;</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Managing Director</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom"><B>HAYWOOD SECURITIES INC.</B></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">/s/ Kevin Campbell</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin Campbell&#8239;&#8239;&#8239;</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Managing Director, Investment Banking</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom"><B>RAYMOND JAMES LTD.</B></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD COLSPAN="2" STYLE="text-align: justify">/s/ Gavin McOuat</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
<TD STYLE="border-top: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gavin McOuat</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>Title:</TD>
<TD>Senior Managing Director, Head of Mining &amp; Metals&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom"><B>BMO NESBITT BURNS INC.</B></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">/s/ Josh Goldfarb</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Josh Goldfarb</FONT></TD></TR>
<TR>
<TD STYLE="width: 50%">&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify; width: 3%">&nbsp;</TD>
<TD STYLE="vertical-align: top; width: 6%">Title:</TD>
<TD STYLE="vertical-align: top; width: 41%">Managing Director</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom"><B>SCOTIA CAPITAL INC.</B></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">/s/ Darren Grant</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Darren Grant&#8239;&#8239;&#8239;&#8239;</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Managing Director&#8239;&#8239;&#8239;&#8239;</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom"><B>CORMARK SECURITIES INC.</B></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD COLSPAN="2" STYLE="text-align: justify">/s/ Kevin Carter</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
<TD STYLE="border-top: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin Carter&#8239;&#8239;&#8239;&#8239;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>Title:</TD>
<TD>Managing Director&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom"><B>SCP RESOURCE FINANCE LP by its general partner, SCP Resource Finance GP Inc.</B> </TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">/s/ David Wargo</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Wargo</FONT></TD></TR>
<TR>
<TD STYLE="width: 50%">&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: justify; width: 3%">&nbsp;</TD>
<TD STYLE="vertical-align: top; width: 6%">Title:</TD>
<TD STYLE="vertical-align: top; width: 41%">Managing Director, Head of Investment Banking</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font-size: 10pt; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Acknowledged by CF US solely for the purpose of
receiving the benefit of Section&nbsp;8 of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>cantor fitzgerald&nbsp;&amp; Co.</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify">/s/ Sage Kelly</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sage Kelly&#8239;&#8239;&#8239;&#8239;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&#8239;</FONT></TD>
    <TD STYLE="text-align: justify; width: 41%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Head of Investment Banking&#8239;&#8239;&#8239;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font-size: 10pt; text-align: right; margin: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing is in accordance with our understanding
and is accepted by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DENISON MINES CORP.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify">/s/ David Cates</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: justify; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: justify; width: 41%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Cates</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE &ldquo;A&rdquo;<BR>
</B></FONT><B><FONT STYLE="text-transform: uppercase">Material Subsidiaries</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding: 5pt 5.4pt; width: 60%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5pt 5.4pt; width: 40%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Jurisdiction of Incorporation</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Denison Mines Inc. (100%)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canada</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JCU
    (Canada) Exploration Company,&nbsp;Ltd. (50%)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">British Columbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Denison AB Holdings Corp. (100%)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">British Columbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Denison Waterbury Corp. (100%)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ontario</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9373721 Canada Inc. (100%)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canada</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waterbury Lake Uranium Corp. (60% held by Company)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">British Columbia</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waterbury Lake Uranium Limited Partnership (67.40%<B>)</B> held by Company and 0.02% held by WLUC)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5pt 5.4pt 10pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">British Columbia</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE &ldquo;B&rdquo;<BR>
</B></FONT><B>MATTERS TO BE ADDRESSED IN THE COMPANY&rsquo;S CANADIAN COUNSEL OPINION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Company is a &ldquo;reporting issuer&rdquo;, or its equivalent, in each of the Qualifying Jurisdictions
and it is not listed as in default of any requirement of the Applicable Securities Laws in any of the Qualifying Jurisdictions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the Company is a corporation incorporated and validly existing under the <I>Business Corporations Act</I>
(Ontario);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the Company has all necessary corporate power and capacity to carry on its business as now conducted and
to own, lease and operate its property and assets and the Company has the requisite corporate power and capacity to execute and deliver
this Agreement and to carry out the transactions contemplated hereby;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">the Company has all necessary corporate power and capacity: (i)&nbsp;to issue and sell the Firm Shares
and the Additional Shares; and (ii)&nbsp;to grant the Over-Allotment Option;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">the authorized and issued capital of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the attributes attaching to the Offered Shares are consistent and conform with the description under &ldquo;Description
of the Securities Being Distributed&rdquo; in the Canadian Prospectus Supplement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">all necessary corporate action having been taken by Company to authorize the execution and delivery of
this Agreement and the performance by the Company of its obligations hereunder and to authorize the issuance, sale and delivery of the
Firm Shares and, if applicable, the Additional Shares;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">the Offered Shares have been and, upon exercise of the Over-Allotment Option in accordance with its terms,
the Additional Shares will be duly allotted and validly issued as fully-paid and non-assessable Common Shares in the capital of the Company
upon full payment therefor and the issue thereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the form and terms of the definitive certificate representing the Common Shares have been approved by
the directors of the Company and comply in all material respects with the <I>Business Corporations Act</I> (Ontario), the articles of
the Company and the rules, policies and by-laws of the TSX;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">all necessary corporate action has been taken by the Company to authorize the execution and delivery of
each of the Canadian Prospectus Supplement, any Supplementary Material and any Marketing Documents and the filing thereof with the Commissions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">this Agreement has been duly executed and delivered by the Company and constitutes a legal, valid and
binding obligation of the Company enforceable against the Company in accordance with its terms, subject to customary limitations and qualifications
including, but not limited to, bankruptcy, insolvency and other laws affecting the rights of creditors generally and subject to the qualification
that equitable remedies may be granted in the discretion of a court of competent jurisdiction and that enforcement of rights to indemnity,
contribution and waiver of contribution set out in this Agreement may be limited by applicable law;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">the execution and delivery of this Agreement, the fulfillment of the terms thereof by the Company, and
the offering, issuance, sale and delivery of the Firm Shares and the Additional Shares, do not and will not conflict with any of the terms,
conditions or provisions of the articles of the Company, or any applicable corporate or securities laws of Ontario or federal laws applicable therein;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">Computershare Investor Services Inc. is the duly appointed registrar and transfer agent for the Common
Shares of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">all necessary documents have been filed, all requisite proceedings have been taken and all approvals,
permits and consents of the appropriate regulatory authority in each Qualifying Jurisdiction have been obtained to qualify the distribution
of the Offered Shares in each of the Qualifying Jurisdictions through persons who are registered under Applicable Securities Laws and
who have complied with the relevant provisions of such applicable laws;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">subject only to the Standard Listing Conditions, the Offered Shares have been conditionally listed or
approved for listing on the TSX; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(p)</FONT></TD><TD STYLE="text-align: justify">subject to the qualifications, limitations, restrictions and assumptions set out therein, the statements
in the Canadian Prospectus Supplement under the headings &ldquo;Certain Canadian Federal Income Tax Considerations&rdquo; and &ldquo;Eligibility
for Investment&rdquo;, insofar as such statements constitute statements of law, constitute accurate general summaries of the principal
Canadian federal income tax considerations under the Tax Act described therein generally applicable to holders described therein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SCHEDULE &ldquo;C&rdquo;<BR>
</B></FONT><B>FORM&nbsp;OF OPINION TO BE PROVIDED BY COMPANY&rsquo;S U.S. COUNSEL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The Registration Statement was declared effective by the SEC under the Securities Act and the rules&nbsp;and
regulations thereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">We confirm to you, based solely on our review of the SEC&rsquo;s &ldquo;Stop Orders&quot; web page&nbsp;(http://sec.gov/litigation/stoporders.shtm),
that no stop order suspending the effectiveness of the Registration Statement has been issued; to our knowledge, no proceedings for that
purpose have been instituted or overtly threatened.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Any required filing of the U.S. Prospectus Supplement under the Securities Act has been made in the manner
and within the time period required by the Securities Act and the rules&nbsp;and regulations thereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">The Registration Statement as of the Effective Date, and the U.S. Prospectus as of its date (other than
the documents incorporated by reference therein, the financial statements and notes thereto, and supporting schedules included therein
or omitted therefrom, or other financial or statistical data derived therefrom, as to which we express no opinion), and the Form&nbsp;F-X
as of the date of its filing with the SEC, each appeared on its face to comply as to form in all material respects with the applicable
requirements of the Securities Act and the rules&nbsp;and regulations thereunder. For purposes of this paragraph, we have assumed that
the statements made in the Registration Statement and the U.S. Prospectus are correct and complete.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">The Company is not, and after giving effect to the Offering and the application of the proceeds thereof
as described in the U.S. Prospectus, will not be required to be registered as an &quot;investment company&quot; under the United States
Investment Company Act of 1940, as amended.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">No consent, approval, authorization or filing with or order of any U.S. federal court or governmental
agency or body having jurisdiction over the Company is required for the consummation by the Company of the transactions contemplated by
the Agreement, except such as have been obtained under the Securities Act and except such as may be required under the blue sky laws of
any jurisdiction in connection with the purchase and distribution of the Offered Shares by you in the manner contemplated in the Agreement,
or under the rules&nbsp;of the NYSE American.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">The statements in the Time of Sale Prospectus and the U.S. Prospectus Supplement under the heading &quot;Material
United States Federal Income Tax Considerations for U.S. Holders&quot; insofar as they purport to describe provisions of U.S. legal matters
with respect thereto, fairly present, to the extent required by the Securities Act and the rules&nbsp;and regulations thereunder, in all
material respects such U.S. legal matters.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Legal counsel will also state in a separate letter
as follows, on the basis of the customary assumptions and qualifications set forth in the letter:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">nothing has come to our attention that causes us to believe that (i)&nbsp;the Registration Statement,
at the Effective Date, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein
or necessary to make the statements therein not misleading, (ii)&nbsp;the Time of Sale Prospectus, at the Applicable Time, contained an
untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading, or (iii)&nbsp;the U.S. Prospectus or any amendment
or supplement thereto as of its date and the Closing Date contained or contains any untrue statement of a material fact or omitted or
omits to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading (it being understood that we express no belief with respect to any financial statements and
related notes, financial statement schedules, or other financial data, accounting data or statistical data or any Technical Mining Information
contained in or omitted from the Registration Statement, the Time of Sale Prospectus and the U.S. Prospectus).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>Schedule
 &ldquo;D&rdquo;<BR>
</B></FONT><B><FONT STYLE="text-transform: uppercase">Form&nbsp;of Lock-Up Agreement</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">October 16, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">To:</TD><TD>Cantor Fitzgerald Canada Corporation</TD></TR>
                                                                                                             <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>(the &ldquo;<B>Lead Underwriter</B>&rdquo;)</TD></TR>
                                                                                                             <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                             <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-size: 10pt"><B>Re:</b></font></TD><TD><B>Denison Mines Corp. &ndash; Lock-up Agreement</B></TD></TR>
                                                                                                             </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
undersigned understands that this lock-up agreement (the &ldquo;<B>Lock-Up Agreement</B>&rdquo;) is being delivered to you in connection
with the Underwriting Agreement dated </FONT>October&nbsp;11, 2023 (the &ldquo;<B>Underwriting Agreement</B>&rdquo;) entered into
by Denison Mines Corp. (the &ldquo;<B>Company</B>&rdquo;) and the Underwriters (as defined in the Underwriting Agreement), with respect
to the public offering (the &ldquo;<B>Offering</B>&rdquo;) of common shares of the Company (the &ldquo;<B>Common Shares</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In consideration of the benefit that the Offering will confer upon
the undersigned as a [<B>director and/or officer</B>] of the Company, and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the undersigned agrees that, in respect of Common Shares owned directly or indirectly by the undersigned,
or under control or direction of the undersigned (including holding as a custodian) or with respect to which the undersigned has beneficial
ownership (as such term is used in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;))
(collectively, the &ldquo;<B>Locked-Up Securities</B>&rdquo;), during the period beginning from the date hereof and ending on the day
that is ninety (90) days following the date of the closing of the Offering (the &ldquo;<B>Lock-Up Period</B>&rdquo;), the undersigned
will not, without the prior written consent of the Lead Underwriter, which consent shall not unreasonably be delayed, conditioned or withheld,
(i) issue, offer, sell (including, without limitation, any short sale), contract or agree to sell, hypothecate, pledge, grant any option
to purchase or otherwise dispose of or agree to dispose of or transfer, directly or indirectly, or establish or increase a &ldquo;put
equivalent position&rdquo; or liquidate or decrease a &ldquo;call equivalent position&rdquo; within the meaning of Section 16 of the Exchange
Act, with respect to, any Locked-Up Securities, or any securities convertible into or exchangeable or exercisable for, or warrants or
other rights to purchase, the foregoing, (ii) except as permitted in the Underwriting Agreement, cause to become effective a registration
statement under the United States Securities Act of 1933, as amended, together with the rules and regulations promulgated thereunder (the
 &ldquo;<B>Securities Act</B>&rdquo;), or to file a prospectus in Canada, relating to the offer and sale of any Locked-Up Securities or
securities convertible into or exercisable or exchangeable for Locked-Up Securities or other rights to purchase Locked-Up Securities or
any other securities of the Company that are substantially similar to the Locked-Up Securities, or any securities convertible into or
exchangeable or exercisable for, or any warrants or other rights to purchase, the foregoing, (iii) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of the Locked-Up Securities or any other
securities of the Company that are substantially similar to the Locked-Up Securities, or any securities convertible into or exchangeable
or exercisable for, or any warrants or other rights to purchase, the foregoing, whether any such transaction is to be settled by delivery
of Common Shares or such other securities, in cash or otherwise or (iv) publicly announce an intention to effect any transaction specified
in clause (i), (ii) or (iii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing paragraph shall
not apply to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">dispositions to any trust for the direct or indirect benefit of the undersigned and/or the spouse, any
lineal descendent, father, mother, brother or sister of the undersigned, provided that such trust agrees in writing with the Underwriters
to be bound by the terms of this Lock-Up Agreement,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">tenders pursuant to a <I>bona fide</I> third party take-over bid made to all holders of Common Shares
of the Company or similar acquisition transaction provided that in the event that the take-over bid or acquisition transaction is not
completed, any Locked-Up Securities shall remain subject to the restrictions contained in this Lock-Up Agreement,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">any dispositions pursuant to any pre-existing 10b5-1 plans,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">any dispositions required to pay the exercise price of any stock options issued or outstanding under the
Company&rsquo;s equity incentive compensation plans,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify">any dispositions required for tax withholdings in connection with the exercise or vesting of any stock
options or restricted stock units issued or outstanding under the Company&rsquo;s equity incentive compensation plans,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(F)</TD><TD STYLE="text-align: justify">by testate succession or intestate succession,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(G)</TD><TD STYLE="text-align: justify">by operation of law, such as pursuant to a qualified domestic order or in connection with a divorce settlement,
or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(H)</TD><TD STYLE="text-align: justify">if acquired by the undersigned in open market transactions after the Offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Nothing contained herein will
restrict the undersigned from exercising securities convertible into or exchangeable or exercisable for, or any warrants or other rights
to purchase, Common Shares, provided that the underlying Common Shares are treated as Locked-Up Securities for the purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the undersigned
hereby waives any and all pre-emptive rights, participation rights, resale rights, rights of first refusal and similar rights that the
undersigned may have in connection with the Offering or with any issuance or sale by the Company of any equity or other securities in
connection with the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby confirms
that the undersigned has not, directly or indirectly, taken, and hereby covenants that the undersigned will not, directly or indirectly,
take, any action designed, or which has constituted or will constitute or might reasonably be expected to cause or result in the stabilization
or manipulation of the price of any security of the Company to facilitate the sale or resale of the Common Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned understands
that the Company and the Underwriters are relying upon this Lock-Up Agreement in proceeding toward the consummation of the Offering. The
undersigned further understands that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned&rsquo;s legal representatives,
successors, and assigns, and shall enure to the benefit of the Company, the Underwriters and their legal representatives, successors and
assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
obligations of the undersigned pursuant to this Lock-Up Agreement may be waived in writing in whole or in part by the Lead Underwriter
in its sole discretion.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Lock-Up Agreement is
governed by the laws of the Province of Ontario and the laws of Canada applicable therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">Yours very truly,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 49%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 49%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Witness</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 49%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of Common Shares subject to this Lock-Up Agreement</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Acknowledged and agreed as of the date first written
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>CANTOR FITZGERALD CANADA CORPORATION </B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="text-align: justify; width: 46%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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