<SEC-DOCUMENT>0001213900-23-051790.txt : 20230627
<SEC-HEADER>0001213900-23-051790.hdr.sgml : 20230627
<ACCEPTANCE-DATETIME>20230626202624
ACCESSION NUMBER:		0001213900-23-051790
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230626
FILED AS OF DATE:		20230627
DATE AS OF CHANGE:		20230626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			enCore Energy Corp.
		CENTRAL INDEX KEY:			0001500881
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41489
		FILM NUMBER:		231043807

	BUSINESS ADDRESS:	
		STREET 1:		101 N. SHORELINE BLVD, SUITE 450
		CITY:			CORPUS CHRISTI
		STATE:			TX
		ZIP:			78401
		BUSINESS PHONE:		361-239-5449

	MAIL ADDRESS:	
		STREET 1:		101 N. SHORELINE BLVD, SUITE 450
		CITY:			CORPUS CHRISTI
		STATE:			TX
		ZIP:			78401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Encore Energy Corp.
		DATE OF NAME CHANGE:	20170301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WOLFPACK GOLD CORP.
		DATE OF NAME CHANGE:	20130523

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TIGRIS URANIUM CORP.
		DATE OF NAME CHANGE:	20100908
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea180873-6k_encore.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></FONT></P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
6-K</B></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Report
of Foreign Private Issuer<BR>
Pursuant to Rule 13a-16 or 15d-16 of<BR>
the Securities Exchange Act of 1934</B></FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
the month of June 2023</B></FONT></P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Commission
File Number 001-41489</B></FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>enCore
Energy Corp.<BR>
</B>(Translation of registrant&rsquo;s name into English)</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;<B>101
N. Shoreline Blvd. Suite 450, Corpus Christi, TX 78401<BR>
</B>(Address of principal executive offices)</FONT></P>

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

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
20-F <FONT STYLE="font-style: normal; font-variant: normal; font-weight: normal">&#9744;</FONT> Form 40-F <FONT STYLE="font-style: normal; font-variant: normal; font-weight: normal">&#9746;</FONT></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Incorporation
by Reference</B></FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibits
99.1 of this Form 6-K is incorporated by reference as an additional exhibit to the registrant&rsquo;s Registration Statement on&nbsp;<FONT STYLE="color: White"><A HREF="http://www.sec.gov/Archives/edgar/data/1500881/000121390023048272/ea178025-f10_encoreenergy.htm">Form
F-10</A></FONT>&nbsp;(File No. 333-272609)</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following documents are being submitted herewith:</FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: top; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 90%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><A HREF="ea180873ex99-1_encore.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales Agreement dated June 26, 2023</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

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

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

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>enCore
    Energy Corp.</B></FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Registrant)</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 60%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:&nbsp;June
    26, 2023</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 5%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: normal 10pt Times New Roman, Times, Serif; width: 35%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Carrie Mierkey</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carrie
    Mierkey</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></P>

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



<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea180873ex99-1_encore.htm
<DESCRIPTION>SALES AGREEMENT DATED JUNE 26, 2023
<TEXT>
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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><B>Exhibit 99.1</B></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ENCORE
ENERGY CORP.</B></FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
Shares<BR>
(without par value)</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Controlled
Equity Offering<SUP>SM</SUP></B></FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Sales
Agreement</U></B></FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">June
26, 2023</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cantor
Fitzgerald Canada Corporation<BR>
181 University Avenue, Suite 1500<BR>
Toronto, Ontario<BR>
M5H 3M7</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cantor
Fitzgerald &amp; Co.<BR>
110 East 59th Street<BR>
New York, New York 10022</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canaccord
Genuity Corp.<BR>
40 Temperance Street, Suite 2100<BR>
Toronto, Ontario, M5H 0B4</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canaccord
Genuity LLC</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99
High Street, Suite 1200</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Boston,
Massachusetts 02110</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Haywood
Securities Inc.<BR>
Suite 700 &ndash; 200 Burrard Street<BR>
Vancouver, British Columbia V6C 3L6</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PI
Financial Corp.</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2500-733
Seymour Street</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vancouver,
British Columbia V6B 0S6</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jett
Capital Advisors, LLC</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">712
Fifth Avenue, 11th Floor<BR>
New York, New York 10019</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ladies
and Gentlemen:</FONT></P>

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

<P STYLE="text-align: justify; font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EnCore
Energy Corp., a company existing under the laws of British Columbia (the &ldquo;<B>Company</B>&rdquo;), confirms its agreement (this
&ldquo;<B>Agreement</B>&rdquo;) with Cantor Fitzgerald Canada Corporation, and Cantor Fitzgerald &amp; Co., (each a &ldquo;<B>Lead Agent</B>&rdquo;
and together, the &ldquo;<B>Lead Agents</B>&rdquo;) and Canaccord Genuity Corp., Canaccord Genuity LLC, Haywood Securities Inc., PI Financial
Corp. and Jett Capital Advisors, LLC (collectively with the Lead Agents, the &ldquo;<B>Agents</B>&rdquo; and each, an &ldquo;<B>Agent</B>&rdquo;),
to issue and sell common shares, without par value, of the Company the (&ldquo;<B>Shares</B>&rdquo;) upon and subject to the terms and
conditions contained herein. Capitalized terms used herein have the meanings given to them in Section 25 hereof.</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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

<P STYLE="font: normal 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; font-weight: normal; text-transform: uppercase">1
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Issuance and Sale of Shares</U></B></FONT>&nbsp;</P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein,
it may issue and sell through the Agents, Shares having an aggregate sales price of up to US$70,000,000 (the &ldquo;<B>Offering</B>&rdquo;).
The Shares will be sold on the terms set forth herein at such times and in such amounts as the Company and the Agents shall agree from
time to time. The issuance and sale of the Shares through the Agents will be effected pursuant to the Prospectuses (as defined below)
and the Registration Statement (as defined below) filed by the Company and declared effective by the Securities and Exchange Commission
(&ldquo;<B>SEC</B>&rdquo;). When determining the aggregate value of the Placement Shares (as defined below) sold, the Company will use
the daily exchange rate posted by the Bank of Canada on the date the applicable Placement Shares were sold to determine the United Sates
dollar equivalent of any Placement Shares sold in consideration for Canadian dollars.</FONT></P>

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

<P STYLE="font: normal 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; font-weight: normal; text-transform: uppercase">2
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Placements</U></B></FONT></P>

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

<P STYLE="font: normal 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">(a)   <U>Placement
Notice</U>. Each time that the Company wishes to issue and sell Shares hereunder (each, a &ldquo;<B>Placement</B>&rdquo;), it will notify
the Lead Agents by e-mail notice (or other method mutually agreed to in writing by the parties) (a &ldquo;<B>Placement Notice</B>&rdquo;),
at least two (2) Trading Days (as defined below) prior to the date that the sale of Placement Shares is requested to commence, in the
form set forth on Schedule &ldquo;A&rdquo; hereto, containing the parameters within which it desires to sell the Shares pursuant to this
Agreement, which shall at a minimum include the number of Shares to be sold (&ldquo;<B>Placement Shares</B>&rdquo;), the time period
during which sales are requested to be made, any limitation on the number of Placement Shares that may be sold in any one Trading Day
(as defined below), any minimum price below which sales may not be made, any requested split between the Exchanges on which the Placement
Shares are to be sold, and the amount of the Placement Fee (as defined below). The Placement Notice shall originate from any of the individuals
(each an &ldquo;<B>Authorized Representative</B>&rdquo;) from the Company set forth on Schedule &ldquo;B&rdquo; hereto (with a copy to
each of the other individuals from the Company listed on such schedule) and shall be addressed to each of the respective individuals
from the Lead Agents set forth on Schedule &ldquo;B&rdquo; hereto, as such Schedule &ldquo;B&rdquo; may be amended from time to time.
The Placement Notice shall be effective upon delivery to the Lead Agents, who will confirm receipt promptly by e-mail notice to the individuals
from the Company set forth on Schedule &ldquo;B&rdquo;, unless and until (i) the Lead Agents decline to accept the terms contained therein
for any reason, in their sole discretion, in accordance with the notice requirements set forth in Section 4, (ii) the entire amount of
the Placement Shares have been sold, (iii) the Company suspends or terminates the Placement Notice in accordance with the notice requirements
set forth in Sections 4 or 14, as applicable, (iv) the Company issues a subsequent Placement Notice with parameters superseding those
on the earlier Placement Notice, which subsequent Placement Notice has been accepted by the Lead Agents, provided however that if the
Lead Agents do not accept such subsequent Placement Notice it will still have the effect of terminating any prior Placement Notice it
was intended to supersede unless expressly agreed otherwise by the Company and the Lead Agents in writing, or (v) this Agreement has
been terminated under the provisions of Section 14.</FONT></P>

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

<P STYLE="font: normal 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">(b)   <U>Placement
Fee</U>. The amount of compensation to be paid by the Company to any Lead Agent with respect to each Placement for which such Agent acted
as sales agent under this Agreement shall be equal to up to 3.0% of the gross proceeds from such Placement (the &ldquo;<B>Placement Fee</B>&rdquo;),
which amount shall be paid in the same currency as the sale of the Placement Shares it pertains to.</FONT></P>

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

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

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

<P STYLE="font: normal 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">(c) <U>Economic
Split.</U> Promptly after the end of each fiscal quarter of the Company during which the Company executed one or more Placement
Notices, but in no event later than 15 calendar days, the Lead Agents shall disclose to the other Agents the net amount of
commissions (the &ldquo;<B>Net Commission</B>&rdquo;) received as a result of selling Placement Shares pursuant to Placement
Notices, with such documentation as reasonably requested by the other Agents. The Lead Agents shall be entitled to 60% of the Net
Commission received by the Lead Agents and each of the other Agents shall each be entitled to 10% of the Net Commission which shall
be paid by the Lead Agents to such other Agents (such agents, the &ldquo;<B>Paying Agents</B>&rdquo;, and such amount, the
&ldquo;<B>True Up Payments</B>&rdquo;). Any True Up Payments shall be made within 30 calendar days of each fiscal quarter
end.</FONT></P>

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

<P STYLE="font: normal 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">(d)   <U>No
Obligation</U>. It is expressly acknowledged and agreed that neither the Company nor any Lead Agent will have any obligation whatsoever
with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to such Lead Agent, which
Placement Notice has not been declined, suspended or otherwise terminated in accordance with the terms of this Agreement, and then only
upon the terms specified therein and herein. It is also expressly acknowledged that the Agents will be under no obligation to purchase
Placement Shares on a principal basis. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice,
the terms of the Placement Notice, as accepted by the applicable Agent, will prevail.</FONT></P>

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

<P STYLE="font: normal 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">(e)   <U>Limitations
on Placements</U>. Under no circumstances shall the Company deliver a Placement Notice if, after giving effect to the issuance of the
Placement Shares requested to be issued under such Placement Notice, the aggregate sales proceeds raised from the Placement Shares sold
pursuant to this Agreement would exceed US$70,000,000. Under no circumstances shall the Company cause or request the offer or sale of
any Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate gross sales proceeds of Placement Shares
sold pursuant to this Agreement would exceed (i) the amount authorized from time to time to be issued and sold under this Agreement by
the Company&rsquo;s board of directors and notified to the Lead Agents in writing or (ii) the amount qualified and registered for issuance
under this Agreement pursuant to the Prospectuses and the Registration Statement. Under no circumstances shall the Lead Agents cause
or request the offer or sale of any Placement Shares pursuant to this Agreement at a price lower than the minimum price authorized from
time to time in the applicable Placement Notice.</FONT></P>

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

<P STYLE="font: normal 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; font-weight: normal; text-transform: uppercase">3
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Sale of Placement Shares by the Lead Agent</U></B><U>
</U></FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">Subject to the terms and conditions of this Agreement, upon the Company&rsquo;s issuance of a Placement Notice, and unless the sale
of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms of this
Agreement, each Lead Agent will (severally and not jointly) use its commercially reasonable efforts consistent with its normal trading
and sales practices to sell on behalf of the Company and as agent, such Placement Shares up to the amount specified during the time period
specified, and otherwise in accordance with the terms of such Placement Notice. Each Lead Agent (severally and not jointly) covenants
and the Company acknowledges that such Lead Agent will conduct the sale of Placement Shares in compliance with applicable law, rules
and regulations including, without limitation, all applicable U.S. Securities Laws (as defined below), the Exchange Act (as defined below),
all applicable Canadian Securities Laws (as defined below), and, if applicable, the respective rules of the Exchanges (as defined below),
and that such compliance may include a delay in commencement of sales efforts after receipt of a Placement Notice.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

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

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<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Lead Agent will (severally and not jointly) provide written confirmation to the Company no later than the opening of the Trading Day
immediately following the Trading Day on which it has made sales of Placement Shares hereunder setting forth:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            aggregate number of Placement Shares sold on such day (showing the time of day and number
                                            of Placement Shares for each trade pursuant to which Placement Shares were sold on the TSXV,
                                            on any other &ldquo;marketplace&rdquo; (as such term is defined in NI 21-101) in Canada (a
                                            &ldquo;<B>Canadian Marketplace</B>&rdquo;), on the NYSE American, on any other &ldquo;marketplace&rdquo;
                                            (as such term is defined in NI 21-101) in the United States (a &ldquo;<B>United States Marketplace</B>&rdquo;)
                                            and pursuant to any other sales method used by the Agents),</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            average price of the Placement Shares sold (showing the actual price of the Placement Shares
                                            sold for each trade pursuant to which Placement Shares were sold on the TSXV, any other Canadian
                                            Marketplace, the NYSE American, any other United States Marketplace and pursuant to any other
                                            sales method used by the Agents),</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            gross proceeds,</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            commissions payable by the Company to the Agents with respect to such sales, and</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            Net Proceeds (as defined below) payable to the Company.</FONT></TD></TR></TABLE>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
to the terms and conditions of the Placement Notice, the Lead Agents may sell Placement Shares by any method permitted by law that constitutes
an &ldquo;at the market distribution&rdquo; under NI 44-102, including, without limitation, sales made directly on the Exchanges, or
on any other Canadian Marketplace or United States Marketplace. Cantor Fitzgerald Canada Corporation shall be the Lead Agent for the
sale of Placement Shares in Canada and Cantor Fitzgerald &amp; Co. will be the Lead Agent for the sale of Placement Shares in the United
States. Cantor Fitzgerald &amp; Co., Canaccord Genuity LLC and Jett Capital Advisors, LLC (each, a &ldquo;<B>U.S. Agent&rdquo; </B>and,
together, the &ldquo;<B>U.S. Agents</B>&rdquo;) covenant and agree with the Company that they (i) shall not, directly or indirectly,
advertise or solicit offers to purchase or sell Placement Shares in Canada, and (ii) shall not sell Placement Shares on any Canadian
Marketplace. For the avoidance of doubt, the U.S. Agents are not acting as underwriters of or agents with respect to the Placement Shares
in the Canadian Qualifying Jurisdictions and no action on the part of such Agents in their capacity as agents of the offering of the
Placement Shares in the United States is intended to create any impression or support any conclusion that they are acting as an underwriters
of or agents with respect to the Placement Shares in the Canadian Qualifying Jurisdictions. Cantor Fitzgerald Canada Corporation, Canaccord
Genuity Corp., Haywood Securities and PI Financial Corp. (each, a &ldquo;<B>Canadian Agent</B>&rdquo; and, together, the &ldquo;<B>Canadian
Agents</B>&rdquo;) covenant and agree with the Company that they (i) shall not, directly or indirectly, advertise or solicit offers to
purchase or sell Placement Shares in the United States, and (ii) shall not sell Placement Shares on any United States Marketplace. For
the avoidance of doubt, the Canadian Agents are not acting as underwriters of or agents with respect to the Placement Shares in the United
States and no action on the part of such Agents in their capacity as agents of the offering of the Placement Shares in the Canadian Qualifying
Jurisdictions is intended to create any impression or support any conclusion that they are acting as underwriters of or agents with respect
to the Placement Shares in the United States.</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of the Lead Agents hereby covenants and agrees that, during the time a Lead Agent is the recipient of a Placement Notice pursuant to
Section 2 hereof that has not been suspended or terminated in accordance with the terms hereof, such Lead Agent will prudently and actively
monitor the market&rsquo;s reaction to trades made on any marketplace (as such term is defined in NI 21-101) pursuant to this Agreement
in order to evaluate the likely market impact of future trades, and that, if such Lead Agent that is the recipient of the Placement Notice
has concerns as to whether a particular sale contemplated by a Placement Notice may have a significant effect on the market price of
the Shares, such Lead Agent will, upon receipt of the applicable Placement Notice, recommend to the Company against effecting the trade
at that time or on the terms proposed. Notwithstanding the foregoing, the Company acknowledges and agrees that the Lead Agents cannot
provide complete assurances that any sale will not have a significant effect on the market price of the Shares.</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Lead Agents (severally and not jointly) covenant that the Lead Agents will not (nor will any affiliate thereof or person or company acting
jointly or in concert therewith) (i) over-allot Placement Shares in connection with the distribution of Placement Shares in an &ldquo;at-the-market
distribution&rdquo; (as defined in NI 44-102); or (ii) effect any other transactions that are intended to stabilize or maintain the market
price of the Placement Shares in connection with such distribution.</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
anything to the contrary set forth in this Agreement or a Placement Notice, the Company acknowledges and agrees that (i) there can be
no assurance that the Lead Agents will be successful in selling any Placement Shares or as to the price at which any Placement Shares
are sold, if at all, (ii) the Lead Agents will incur no liability or obligation to the Company or any other person or entity if they
do not sell Placement Shares for any reason other than a failure by the Lead Agents to use their commercially reasonable efforts consistent
with its normal trading and sales practices to sell on behalf of the Company and as agent such Placement Shares as provided under this
Section 3 and (iii) the Lead Agents shall be under no obligation to purchase Placement Shares on a principal basis pursuant to this Agreement,
except as otherwise agreed by the Agents and the Company.</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company and the Agents agree that any offer to sell, any solicitation of an offer to buy, or any sales of Placement Shares pursuant to
this Agreement shall only be effected by or through the Lead Agents.</FONT></P>

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

<P STYLE="font: normal 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; font-weight: normal; text-transform: uppercase">4
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Suspension of Sales&nbsp;</U></B></FONT></P>

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

<P STYLE="font: normal 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">(a)   The
Company or any Lead Agent may, upon notice to the other party in writing, by telephone (confirmed promptly by return e-mail from the
applicable Lead Agent) or by e-mail notice (or other method mutually agreed to in writing by the parties), suspend any sale of Placement
Shares for which it has received a Placement Notice or in the case of the Lead Agents only, decline to accept the terms of a Placement
Notice; provided, however, that such suspension shall not affect or impair any party&rsquo;s obligations with respect to any Placement
Shares sold hereunder prior to the receipt of such notice. The Company and the Lead Agents, severally and not jointly, agree that no
such notice shall be effective against any other party unless it is made to one of the individuals named on Schedule &ldquo;B&rdquo;
hereto, as such Schedule may be amended from time to time.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(b)   Notwithstanding
any other provision of this Agreement, during any period in which the Company is in possession of material non-public information, the
Company and the Lead Agents (provided they have been given prior written notice of such by the Company, which notice the Lead Agents
agree to treat confidentially) agree (severally and not jointly) that (1) no sale of Placement Shares will take place, (2) the Company
shall not request the sale of any Placement Shares, and (3) the Lead Agents shall not be obligated to sell or offer to sell any Placement
Shares.</FONT></P>

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

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

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

<P STYLE="font: normal 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; font-weight: normal; text-transform: uppercase">5
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Settlement</U></B></FONT></P>

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

<P STYLE="font: normal 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">(a) <U>Settlement
of Placement Shares</U>. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Shares
will occur on the second (2nd) Trading Day on the applicable stock exchange following the date on which the Placement Shares were
sold or, if the Placement Shares are not sold on a stock exchange, on the second (2<SUP>nd</SUP>) Trading Day (or, in either case,
such earlier day as is agreed by the parties to be industry practice for regular-way trading) following the date on which such sales
are made (each a &ldquo;<B>Settlement Date</B>&rdquo;). The amount of proceeds to be delivered to the Company on a Settlement Date
against the receipt of the Placement Shares sold (&ldquo;<B>Net Proceeds</B>&rdquo;) will be equal to the aggregate sales price at
which such Placement Shares were sold, after deduction for (i) the commission or other compensation for such sales payable by the
Company to the Lead Agents pursuant to Section 2 hereof and (ii) any transaction fees imposed by any Governmental Authority in
respect of such sales. Unless otherwise specified in the Placement Notice, the Lead Agents shall deliver Net Proceeds to the Company
in the same currency as the sale of the Placement Shares it pertains to (the &ldquo;<B>Original Currency</B>&rdquo;). If the Company
elects in the Placement Notice to receive Net Proceeds in a currency other than the Original Currency (the &ldquo;<B>Alternative
Currency</B>&rdquo;), the Lead Agents shall use reasonable commercial efforts to achieve a favorable exchange rate for such
conversion based on the prevailing exchange rate on the Settlement Date, which shall be subject to applicable fees typically charged
by the Lead Agents in similar transactions and any premium and costs of exchange payable by the Lead Agents in connection with such
conversion; provided that if, in the sole judgment of the Lead Agents, the Alternative Currency is unavailable due to the imposition
of exchange controls or other circumstances beyond the Lead Agents&rsquo; control, is no longer used by the government of the
country issuing the Alternative Currency or is no longer used for the settlement of transactions by public institutions of the
international banking community, then the Net Proceeds shall be paid on the Settlement Date in the Original Currency.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(b)   <U>Delivery
of Placement Shares</U>. On each Settlement Date, the Placement Shares sold through any Lead Agent for settlement on such date shall
be issued and delivered by the Company to such Lead Agent against payment by such Lead Agent to the Company of the Net Proceeds from
the sale of such Placement Shares. Settlement of all such Placement Shares shall be effected by free delivery of the Placement Shares
by the Company or its transfer agent to electronically transfer the Placement Shares being sold by crediting the applicable Lead Agent&rsquo;s
account or its designee&rsquo;s account (provided that the applicable Lead Agent shall have given the Company written notice of such
designee at least one Trading Day prior to the Settlement Date) at The Depository Trust Company through its Deposit Withdrawal at Custodian
System for Placement Shares sold in the United States and at CDS Clearing and Depository Services Inc. through its CDSX system for Placement
Shares sold in Canada or by such other means of delivery as may be mutually agreed upon by the parties hereto and, upon receipt of such
Placement Shares, which in all cases shall be freely tradeable, transferable, registered shares in good deliverable form, in return for
payment in same day funds to an account designated by the Company prior to the Settlement Date. If the Company defaults in its obligation
to deliver Placement Shares on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations
set forth in Section 12 hereto, it will (i) hold the Lead Agents harmless against any loss, claim, damage, or expense (including reasonable
legal fees and expenses), as incurred, arising out of or in connection with such default by the Company and (ii) pay to the applicable
Lead Agent any commission, discount, or other compensation to which it would otherwise have been entitled absent such default.</FONT></P>

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

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

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

<P STYLE="font: normal 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">(c)   <U>Denominations;
Registration</U><I>. </I>Certificates for the Placement Shares, if any, shall be in such denominations and registered in such names as
the Agents may request in writing at least one full Business Day before the applicable Settlement Date. The certificates for the Placement
Shares, if any, will be made available by the Company for examination and packaging by the Agents in The City of New York not later than&nbsp;noon
(New York time) on the Business Day prior to the applicable Settlement Date.</FONT></P>

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

<P STYLE="font: normal 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; font-weight: normal; text-transform: uppercase">6   </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Registration
Statement and Prospectuses</U></FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has prepared and filed with the Canadian Qualifying Authorities (as defined below) the Canadian Base Prospectus (as defined below)
in respect of an aggregate of up to US$140,000,000 in common shares, subscription receipts, units, and warrants of the Company, or any
combination of such securities (collectively, the &ldquo;<B>Shelf Securities</B>&rdquo;) in each case in accordance with Canadian Securities
Laws. The British Columbia Securities Commission (the &ldquo;<B>Reviewing Authority</B>&rdquo;) is the principal regulator of the Company
under the passport system procedures provided for under Multilateral Instrument 11-102 &ndash; <I>Passport System </I>and National Policy
11-202 &ndash; <I>Process for Prospectus Reviews </I>in Multiple Jurisdictions in respect of the Shelf Securities and the Offering. The
Reviewing Authority has issued a receipt evidencing that a receipt has been issued on behalf of itself and the other Canadian Qualifying
Authorities, for the Canadian Preliminary Base Prospectus and the Canadian Base Prospectus (the &ldquo;<B>Receipt</B>&rdquo;). The term
&ldquo;<B>Canadian Base Prospectus&rdquo; </B>means the final short form base shelf prospectus dated June 26, 2023 relating to
the Shelf Securities, at the time the Reviewing Authority issued the Receipt with respect thereto in accordance with Canadian Securities
Laws, including NI 44-101 and NI 44-102, and includes all documents incorporated therein by reference and the documents otherwise deemed
to be a part thereof or included therein pursuant to Canadian Securities Laws, including but not limited to, all Designated News Releases.
As used herein, a &ldquo;<B>Designated News Release</B>&rdquo; means a news release disseminated by the Company in respect of previously
undisclosed information that, in the Company&rsquo;s determination, constitutes a material fact (as such term is defined in Canadian
Securities Laws) and identified by the Company as a &ldquo;designated news release&rdquo; in writing on the face page of the version
of such news release that is filed by the Company on SEDAR. As used herein, &ldquo;<B>Canadian Prospectus Supplement</B>&rdquo; means
the most recent prospectus supplement to the Canadian Base Prospectus relating to the Placement Shares, to be filed by the Company with
the Canadian Qualifying Authorities in accordance with Canadian Securities Laws. The Canadian Prospectus Supplement shall provide that
any and all Designated News Releases shall be deemed to be incorporated by reference in the Canadian Base Prospectus. The &ldquo;<B>Canadian
Prospectus</B>&rdquo; means the Canadian Prospectus Supplement (and any additional Canadian prospectus supplement prepared in accordance
with the provisions of this Agreement and filed with the Canadian Qualifying Authorities in accordance with Canadian Securities Laws),
together with the Canadian Base Prospectus.</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has also prepared and filed with the SEC, pursuant to the Canada/U.S. Multi- Jurisdictional Disclosure System adopted by the
SEC and the Canadian Qualifying Authorities, a registration statement on Form F-10 (File No. 333-272609) covering the registration of
the Shelf Securities under the U.S. Securities Act and the rules and regulations of the SEC thereunder (the &ldquo;<B>Rules and Regulations</B>&rdquo;),
and such amendments to such registration statement as may have been permitted or required to the date of this Agreement. Such registration
statement, including the Canadian Base Prospectus (with such deletions therefrom and additions thereto as are permitted or required by
Form F-10 and the Rules and Regulations and including exhibits to such registration statement), has become effective in such form pursuant
to Rule 467(b) under the U.S. Securities Act on June 21, 2023. Such registration statement on Form F-10, at any given time, including
amendments and supplements thereto to such time, the exhibits and any schedules thereto at such time and the documents incorporated by
reference therein at such time, is herein called the &ldquo;<B>Registration Statement</B>.&rdquo; The Canadian Base Prospectus, with
such deletions therefrom and additions thereto as are permitted or required by Form F-10 and the Rules and Regulations in the form in
which it appeared in the Registration Statement on the date it became effective under the U.S. Securities Act is herein called the &ldquo;<B>U.S.
Base Prospectus</B>&rdquo;. &ldquo;<B>U.S. Prospectus Supplement</B>&rdquo; means the most recent Canadian Prospectus Supplement, with
such deletions therefrom and additions thereto as are permitted or required by Form F-10 and the U.S. Securities Act, relating to the
offering of the Placement Shares, to be filed by the Company with the SEC pursuant to General Instruction II.L of Form F-10; &ldquo;<B>U.S.
Prospectus</B>&rdquo; means the U.S. Prospectus Supplement (and any additional U.S. prospectus supplement prepared in accordance with
the provisions of this Agreement and filed with the SEC in accordance with General Instruction II.L of Form F-10) together with the U.S.
Base Prospectus; &ldquo;<B>Base Prospectuses</B>&rdquo; means, collectively, the Canadian Base Prospectus and the U.S. Base Prospectus;
&ldquo;<B>Prospectuses</B>&rdquo; means, collectively, the Canadian Prospectus and the U.S. Prospectus; &ldquo;<B>Prospectus Supplements</B>&rdquo;
means, collectively, the Canadian Prospectus Supplement and the U.S. Prospectus Supplement; and &ldquo;<B>Issuer Free Writing Prospectus</B>&rdquo;
means any &ldquo;issuer free writing prospectus&rdquo; as defined in Rule 433 relating to the Placement Shares that (i) is required to
be filed with the SEC by the Company or (ii) is exempt from filing pursuant to Rule 433(d)(5)(i), 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 433(g).</FONT></P>

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

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

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
reference herein to the Registration Statement, the Base Prospectuses, the Prospectus Supplements or the Prospectuses or any amendment
or supplement thereto shall be deemed to refer to and include the documents incorporated by reference therein, and any reference herein
to the terms &ldquo;amend,&rdquo; &ldquo;amendment&rdquo; or &ldquo;supplement&rdquo; with respect to the Registration Statement, the
Base Prospectuses, the Prospectus Supplements or the Prospectuses shall be deemed to refer to and include the filing or furnishing of
any document with or to the SEC or Canadian Qualifying Authorities, as applicable, on or after the effective date of the Registration
Statement or the date of the Base Prospectuses, the Prospectus Supplements or the Prospectuses, as the case may be, and deemed to be
incorporated by reference therein. For purposes of this Agreement, all references to the Canadian Base Prospectus, the Canadian Prospectus
Supplement and the Canadian Prospectus or any amendment or supplement thereto shall be deemed to include any copy filed with any Canadian
Qualifying Authority pursuant to SEDAR and all references to the Registration Statement, the U.S. Base Prospectus, the U.S. Prospectus
Supplement and the U.S. Prospectus or any amendment or supplement thereto shall be deemed to include any copy filed with the SEC pursuant
to EDGAR.</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has also prepared and filed with the SEC an appointment of agent for service of process upon the Company on Form F-X in conjunction
with the filing of the Registration Statement.</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
references in this Agreement to financial statements and schedules and other information which is &ldquo;contained,&rdquo; &ldquo;included&rdquo;
or &ldquo;stated&rdquo; in the Registration Statement, the U.S. Base Prospectus, the U.S. Prospectus (or other references of like import)
shall be deemed to mean and include all such financial statements and schedules and other information which is incorporated by reference
in or otherwise deemed by the Rules and Regulations to be a part of or included in the Registration Statement, the U.S. Base 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. Base Prospectus or the U.S. Prospectus shall be deemed to mean and include the filing of any document under the Exchange Act,
and which is deemed to be incorporated therein by reference or otherwise deemed by the Rules and Regulations to be a part of or included
in the Registration Statement, the U.S. Base Prospectus, the U.S. Prospectus, as the case may be. All references in this Agreement to
financial statements and other information which is &ldquo;described,&rdquo; &ldquo;contained,&rdquo; &ldquo;included&rdquo; or &ldquo;stated&rdquo;
in the Canadian Base Prospectus or the Canadian Prospectus (or other references of like import) shall be deemed to mean and include all
such financial statements and other information which is incorporated by reference in or otherwise deemed by Canadian Securities Laws
to be a part of or included in the Canadian Prospectus.</FONT></P>

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

<P STYLE="font: normal 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; font-weight: normal; text-transform: uppercase">7   </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Representations
and Warranties of the Company</U></FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company represents and warrants to, and agrees with, the Agents that as of the date of this Agreement and as of each Applicable Time
(as defined below), unless such representation, warranty or agreement specifies a specific date, that:</FONT></P>

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

<P STYLE="font: normal 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">(a)   <U>Registration
Statement and Prospectuses</U>. The Company is a &ldquo;foreign private issuer&rdquo; (as defined in Rule 405 under the U.S. Securities
Act) and is eligible to use Form F-10 under the U.S. Securities Act to register the offering of the Placement Shares under the U.S. Securities
Act. The Company has prepared and filed with the SEC an appointment of agent for service of process upon the Company on Form F-X in conjunction
with the filing of the Registration Statement. The Registration Statement and the Form F-X conform, and any further amendments to the
Registration Statement or the Form F-X will conform, in all material respects, to the requirements of the U.S. Securities Act.</FONT></P>

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

<P STYLE="font: normal 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">(b)   <U>Compliance
with Canadian Laws and Regulations</U>. The Company is eligible to file in each of the Canadian Qualifying Jurisdictions, a prospectus
in the form of a short form prospectus under NI 44-101 and NI 44-102, and there are no reports or information that in accordance with
the requirements of Canadian Securities Laws must be made publicly available in connection with the Offering as at the date hereof that
have not been made publicly available as required. The Company is eligible to use the Shelf Procedures. No cease trade order preventing
or suspending the use of the Canadian Prospectus or preventing the distribution of the Placement Shares has been issued and no proceeding
for that purpose has been initiated or threatened, by any of the Canadian Qualifying Authorities. The Canadian Prospectus, at the time
of filing thereof with Canadian Qualifying Authorities and as amended or supplemented, complied in all material respects with all applicable
Canadian Securities Laws and did not contain any misrepresentation, as defined under Canadian Securities Laws. At each Applicable Time
(i) the Canadian Prospectus, as amended or supplemented, will comply in all material respects with the Canadian Securities Laws, (ii)
the Canadian Prospectus, as amended or supplemented, will not contain any misrepresentation, as defined under Canadian Securities Laws,
(iii) the Canadian Prospectus, as amended or supplemented, will constitute full, true and plain disclosure of all material facts relating
to the Placement Shares, the Subsidiaries and the Company, and (iv) the Canadian Prospectus, as amended or supplemented, will not omit
a material fact which is necessary to make the information and statements contained therein not misleading in light of the circumstances
in which they were made. The representations and warranties set forth in the two immediately preceding sentences do not apply to statements
in or omissions from the Canadian Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity with
information furnished to the Company in writing by or on behalf of the Agents expressly for use therein. To its knowledge, except as
disclosed in the Registration Statement, or included or incorporated in 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 Agents.</FONT></P>

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

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

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

<P STYLE="font: normal 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">(c)   <U>Compliance
with U.S. Requirements</U>. The Registration Statement has become effective under the U.S. 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 Company&rsquo;s knowledge, are contemplated or threatened by the SEC. The U.S. Prospectus when filed complied in all material
respects with the U.S. Securities Act and was identical in all material respects to the copy thereof delivered to the Agents for use
in connection with the offer and sale of the Placement Shares. Each of the Registration Statement and any post-effective amendment thereto,
at the time it became effective and at each Applicable Time (as defined below), complied and will comply in all material respects with
the U.S. 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. The U.S. Prospectus, on the date of filing with the
SEC, and the U.S. Prospectus together with any Issuer Free Writing Prospectus(es), if any, issued at or prior to such Applicable Time,
taken together (collectively, and with respect to any Placement Shares, together with the public offering price for such Placement Shares,
the &ldquo;<B>Time of Sale Prospectus</B>&rdquo;) at each Applicable Time did not and 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 foregoing shall not apply to statements or omissions in any such Registration Statement, U.S. Prospectus or
Time of Sale Prospectus made in reliance on information furnished in writing to the Company by or on behalf of the Agents specifically
for use in the Registration Statement, the U.S. Prospectus, or any amendment or supplement thereto. The Company was not and is not an
&ldquo;ineligible issuer&rdquo; as defined in Rule 405 under the U.S. Securities Act at the times specified in Rules 164 and 433 under
the U.S. Securities Act in connection with the offering of the Placement Shares.</FONT></P>

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<P STYLE="font: normal 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">(d)   <U>Reporting
Issuer and Exchange Status</U><B><I>. </I></B>The Company is a &ldquo;reporting issuer&rdquo; in each of the Canadian Qualifying Jurisdictions.
The Company is in compliance in all material respects with the by-laws, rules and regulations of each of the Exchanges.</FONT></P>

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

<P STYLE="font: normal 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">(e)   <U>Incorporated
Documents</U><B><I>. </I></B>The documents incorporated or deemed to be incorporated by reference in the Prospectuses, the Time of Sale
Prospectus and the Registration Statement, when they were filed with the Canadian Qualifying Authorities or the SEC under the U.S. Securities
Act or the Exchange Act (collectively, the &ldquo;<B>Incorporated Documents</B>&rdquo; and each, an &ldquo;<B>Incorporated Document</B>&rdquo;
), 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, the Time of Sale Prospectus or the Registration Statement
subsequent to the effectiveness of the Registration Statement and prior to the completion of the distribution of the Placement 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.</FONT></P>

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

<P STYLE="font: normal 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">(f)   <U>No
Conflicts</U><B><I>. </I></B>Neither the execution of this Agreement, nor the issuance, offering or sale of the Placement Shares, nor
the consummation of any of the transactions contemplated herein and therein, nor the compliance by the Company or any Subsidiaries 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 or any Subsidiaries pursuant to the terms of any agreements, contracts, arrangements
or understandings (written or oral) to which the Company or any Subsidiaries may be bound or to which any of the property or assets of
the Company or any Subsidiaries is subject, except such conflicts, breaches and defaults that would not reasonably be expected to have
a Material Adverse Effect; nor will such action result (x) in any violation of the provisions of the organizational or governing documents
of the Company or any Subsidiaries, or (y) in any violation of the provisions of any statute or any order, rule or regulation applicable
to the Company or any Subsidiaries or of any Governmental Authority having jurisdiction over the Company or any Subsidiaries, except
such violations that would not reasonably be expected to have a Material Adverse Effect, either individually or in the aggregate.</FONT></P>

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

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<P STYLE="font: normal 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">(g)   <U>No
Misstatement or Omission in an Issuer Free Writing Prospectus or marketing materials</U><B><I>. </I></B>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 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 Agents specifically for inclusion therein as contemplated by Section 12(a).</FONT></P>

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

<P STYLE="font: normal 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">(h)   <U>Conformity
of Issuer Free Writing Prospectus</U>. Each Issuer Free Writing Prospectus conformed or will conform in all material respects with the
requirements of the U.S. Securities Act on the date of first use, and the Company has complied or will comply with any filing requirements
applicable to such Issuer Free Writing Prospectus pursuant to the U.S. Securities Act. The Company has not made any offer relating to
the Placement Shares that would constitute an Issuer Free Writing Prospectus without the prior written consent of the Agents. The Company
has retained in accordance with the U.S. Securities Act all Issuer Free Writing Prospectuses that were not required to be filed pursuant
to the U.S. Securities Act.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(i)   <U>Reports
and Documents, etc</U><B><I>. </I></B>There are no reports or information of the Company or 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 Placement Shares that have not been made publicly available as required. There are no documents of the Company or of any third
party, required to be filed with the Canadian Qualifying Authorities 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 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(j)   <U>Corporate
Action</U>. 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 Placement Shares, on the terms set forth in this Agreement.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(k)   <U>Authorization;
Enforceability</U><B><I>. </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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(l)   <U>No
Material Adverse Effect</U><B><I>. </I></B>Except as has been or will be disclosed in or contemplated by the Registration Statement,
the Prospectus or the Time of Sale Prospectus (including any amendments or supplements thereto or document deemed incorporated by reference
therein), there has not been (i) any Material Adverse Effect, (ii) any transaction which is material to the Company and the Subsidiaries
(as defined below) taken as a whole, (iii) any obligation or liability, direct or contingent (including any off-balance sheet obligations),
incurred by the Company or any Subsidiary, which is material to the Company and the Subsidiaries taken as a whole, (iv) any material
change in the capital stock or outstanding long-term indebtedness of the Company or any of the Subsidiaries or (v) any dividend or distribution
of any kind declared, paid or made on the capital stock of the Company or any 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 Time of Sale
Prospectus and the Prospectuses.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(m)   <U>Independent
Accountants</U><B><I>. </I></B>Davidson &amp; Company 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) for the year ended December 31, 2022 and
2021, are independent public, certified public or chartered accountants as required by the U.S. 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
Davidson &amp; Company LLP. Davidson &amp; Company LLP is not in violation of the auditor independence requirements of the Sarbanes-Oxley
Act of 2002.</FONT></P>

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<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">(n)   <U>Enforceability
of Agreements</U><B><I>. </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) enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting creditors&rsquo; rights generally and by general equitable principles, and (ii) 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(o)   <U>Financial
Information</U><B>. </B>The consolidated financial statements of the Company filed with the SEC and the Canadian Qualifying Authorities
as a part of the Prospectuses, the Time of Sale Prospectus and the Registration Statement, 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 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 Subsidiaries contained or incorporated
by reference in the Prospectuses, the Time of Sale Prospectus and the Registration Statement 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 Prospectuses, the
Time of Sale Prospectus and the Registration Statement that are not included or incorporated by reference as required; the Company and
the Subsidiaries do not have any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations),
not described in the Prospectuses, the Time of Sale Prospectus and the Registration Statement 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 Prospectuses,
the Time of Sale Prospectus and the Registration Statement.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(p)   <U>Statistical,
Industry-Related and Market-Related Data</U>. 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 Time of Sale Prospectus and the Prospectuses
are based on or derived from sources that the Company reasonably believes are reliable and accurate.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(q)   <U>Organization</U>.
The Company and each of its 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 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 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(r)   <U>Subsidiaries</U>.
The subsidiaries of the Company listed in Schedule &ldquo;C(i)&rdquo; (collectively, the &ldquo;<B>Material Subsidiaries</B>&rdquo; and
each, a &ldquo;<B>Material Subsidiary</B>&rdquo;), include all of the Company&rsquo;s material subsidiaries, and the subsidiaries of
the Company listed in Schedule &ldquo;C(ii) (collectively, the &ldquo;<B>Subsidiaries</B>&rdquo; and each, a &ldquo;<B>Subsidiary</B>&rdquo;),
include all of the Company&rsquo;s subsidiaries. Except for the Subsidiaries and investments in other issuers, the Company does not beneficially
own or exercise control or direction over the securities of any person. The Company owns, directly or indirectly, all of the equity interests
of the Subsidiaries free and clear of all encumbrances. All the equity interests of the Subsidiaries and the Joint Venture Entities (as
defined below) held by the Company have been validly issued and are fully paid, non-assessable and free of preemptive and similar rights.
Other than the relevant partnership, shareholder and/or joint venture agreement with respect to its Subsidiaries or Joint Venture Entities,
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 Subsidiaries of any interest in any of the shares or
for the issue or allotment of any unissued shares in the capital of the Subsidiaries or Joint Venture Entities or any other security
convertible into or exchangeable for any such shares. There exists no options, warrants, purchase rights, or other contracts or commitments
that could require the Company to sell, transfer or otherwise dispose of any securities of the Subsidiaries, other than the Company has
entered into an agreement to sell Neutron Energy, Inc. The following Subsidiaries are currently inactive and do not hold any material
assets or liabilities, nor carry on any business or operations: (i) HRI-Churchrock, Inc., (ii) Uranium Resources, Inc. (f/k/a Uranium
Minerals Inc.); (iii) Azarga Resources Limited, (iv) Azarga Resources (Hong Kong) Ltd., and (v) Azarga Resources Canada Ltd.</FONT></P>

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<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">(s)   <U>Minute
Books</U>. Since January 1, 2020, all existing minute books of the Company and each of the 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 Agents 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 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(t)   <U>No
Violation or Default</U><B><I>. </I></B>Neither the Company nor any of the Subsidiaries is (i) in violation of its articles or by-laws
or similar organizational documents; (ii) except as are disclosed in the Registration Statement or included or incorporated by reference
in 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 Subsidiaries
is a party or by which the Company or any of the Subsidiaries is bound or to which any of the property or assets of the Company or any
of the Subsidiaries are subject; or (iii) except as disclosed in the Prospectuses and the Time of Sale Prospectus, in violation of any
Applicable Law, except in the case of each of clauses (ii) and (iii) 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 Subsidiaries is a party is in violation or default
in any respect thereunder where such violation or default would have a Material Adverse Effect.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(u)   <U>Disclosure
Controls</U><B><I>. </I></B>The Company and each of the Subsidiaries (other than Subsidiaries acquired not more than 365 days prior to
the Evaluation Date, as defined below) maintain systems of internal accounting controls applicable under the Internal Control &ndash;
Integrated Framework, 2013 (issued by the Committee of Sponsoring Organizations of the Treadway Commission), 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 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 Rules 13a-15(e) and 15d-15(e)
under the Exchange Act) for the Company and designed such disclosure controls and procedures to ensure that material information relating
to the Company and each of the 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 disclosure controls and procedures as at December 31, 2022
(such date, the &ldquo;<B>Evaluation Date</B>&rdquo;) 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 disclosure controls and procedures or, to the Company&rsquo;s knowledge, in other factors that could significantly
affect the Company&rsquo;s disclosure controls and procedures. The Company maintains disclosure controls and procedures on a consolidated
basis (as such terms are defined in NI 52-109) that comply with the requirements of NI 52-109.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(v)   <U>Capitalization</U><B><I>.
</I></B>The issued and outstanding Shares have been validly issued, are fully paid and non-assessable and 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 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 Shares of the Company due to the issuance of shares upon the exercise or conversion of securities
exercisable for, or convertible into, 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 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 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 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 Shares
or other securities. Except as disclosed in or contemplated by or included or incorporated by reference in the Prospectuses and the Time
of Sale Prospectus, 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) the purchase, subscription or issuance of any unissued shares, securities or warrants of the
Company; or (ii) the repurchase by or on behalf of the Company of any issued and outstanding securities of the Company.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(w)   <U>The
Placement Shares</U>. When issued in accordance with this Agreement, and upon receipt by the Company of payment for the Placement Shares,
the Placement Shares will have been duly and validly created and issued as fully paid and non-assessable.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(x)   <U>Voting
or Control Agreements</U><B><I>. </I></B>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 Subsidiary.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(y)   <U>Restrictions
on Business</U><B><I>. </I></B>Neither the Company nor any Subsidiary or 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 Subsidiaries or the Joint Venture Entities are a party.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(z)   <U>No
Applicable Registration or Other Similar Rights</U><B><I>. </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 who have not waived such rights in writing (including electronically) prior to the execution
of this Agreement.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(aa) <U>No
Consents Required</U><B><I>. </I></B>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 Placement Shares, except for (i) the qualification of the Placement Shares for distribution in the United
States and in Canada; (ii) the approval of each of the Exchanges; and (iii) 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 Placement
Shares by the Agents.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(bb) <U>No
Preferential Rights</U><B><I>. </I></B>Except as set forth in the Registration Statement or included or incorporated by reference in
the Time of Sale Prospectus and the Prospectuses, (i) no person, as such term is defined in Rule 1-02 of Regulation S-X promulgated under
the U.S. 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 Shares or other securities of the Company, except pursuant to options and warrants to purchase Shares pursuant
to outstanding convertible securities of the Company, (ii) 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
Shares or other securities of the Company, (iii) 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 Placement Shares, and (iv) no Person has the right, contractual or otherwise, to require
the Company to register under the U.S. Securities Act or qualify for distribution under Canadian Securities Laws any Shares or other
securities of the Company, or to include any such Shares or other securities in the Registration Statement or included or incorporated
by reference in the Time of Sale Prospectus and the Prospectuses, whether as a result of the filing or effectiveness of the Registration
Statement, the Time of Sale Prospectus, the Prospectuses (or documents incorporated by reference therein) or the sale of the Placement
Shares as contemplated thereby or otherwise.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(cc) <U>Forward-Looking
Information</U><B><I>. </I></B>No forward-looking statement (within the meaning of Section 27A of the U.S. Securities Act and Section
21E of the Exchange Act and no forward- looking information within the meaning of Section 1.1(1) of NI 51-102 of the Securities Act (<I>Ontario</I>))
contained or incorporated by reference in the Registration Statement, the Prospectuses or the Time of Sale Prospectus has been made or
reaffirmed without a reasonable basis or has been disclosed other than in good faith.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(dd) <U>Certificates</U><B><I>.
</I></B>The form of certificates representing the Placement 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>(British Columbia), the articles
of incorporation of the Company and applicable requirements of each of the Exchanges, The Depository Trust Company and CDS or will have
been otherwise approved by each of the Exchanges, if required. The Placement Shares will have been made eligible by The Depository Trust
Company and CDS.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ee) <U>Transfer
Agent</U><B><I>. </I></B>Computershare Trust Company of Canada has been duly appointed as registrar and transfer agent for the Shares.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ff) <U>No
Litigation</U>. Except as disclosed in or incorporated by reference in the Time of Sale Prospectus and the Prospectuses, 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 any Joint Venture Entity is a party or to which any property
of the Company or any of the Subsidiaries or Joint Venture Entities is subject that, individually or in the aggregate, if determined
adversely to the Company or any of the 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 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 U.S. 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 Time of Sale Prospectus and
the Prospectuses that are not so described.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(gg) <U>Material
Agreements</U><I>. </I>Neither the Company nor, to the Company&rsquo;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 &ldquo;material contracts&rdquo; pursuant to Section 12.2 of NI 51- 102.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(hh) <U>Labor
Disputes</U><B><I>. </I></B>No labor disturbance by or dispute with employees of the Company or any of the Subsidiaries exists or, to
the Company&rsquo;s knowledge, is threatened that could reasonably be expected to have a Material Adverse Effect.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ii)   <U>Local
Disputes</U><B><I>. </I></B>Except as set forth in the Registration Statement, or included or incorporated by reference in the Time of
Sale Prospectus and the Prospectuses, 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(jj) <U>Proposed
Acquisition</U>. Except as described in the Time of Sale Prospectus and the Prospectuses, 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 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(kk) <U>Intellectual
Property Rights</U>. Except as disclosed in the Registration Statement or included or incorporated by reference in the Time of Sale Prospectus
and the Prospectuses, the Company and the 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, 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ll) <U>Market
Capitalization</U>. At the time the Registration Statement was initially filed, the Company met the then applicable requirements for
the use of Form F-10 under the U.S. Securities Act.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(mm) <U>No
Material Defaults</U><B><I>. </I></B>Neither the Company nor any of the 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 13(a) or 15(d) of the Exchange Act since the filing of its last
Annual Report on Form 40-F, indicating that it (i) has failed to pay any dividend or sinking fund installment on preferred stock or (ii)
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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(nn) <U>Certain
Market Activities</U>. Neither the Company, nor any of the Subsidiaries&rsquo; 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 Placement Shares or any other &ldquo;reference security&rdquo; (as defined in Rule 100 of Regulation
M under the Exchange Act.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(oo)   <U>Title
to Real and Personal Property</U>.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
                                            as disclosed in the Registration Statement or included or incorporated by reference in the
                                            Time of Sale Prospectus and the Prospectuses, the Company, each Subsidiary and each other
                                            Joint Venture Entity, as applicable, is the beneficial owner of, or has the right to acquire
                                            the interests in, as the case may be, the properties, business and assets referred to in
                                            the Registration Statement or included or incorporated by reference in the Time of Sale Prospectus
                                            and the Prospectuses, inclusive of the Material Properties, free of all encumbrances whatsoever
                                            other than security interests under relevant joint venture agreements governing the Joint
                                            Venture Entities.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
                                            and all agreements pursuant to which the Company, a Subsidiary or 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.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                            the Company&rsquo;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.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Subsidiaries or the Joint Venture Entities
                                            as currently conducted or contemplated to be conducted.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company knows of no claim or basis for any claim that could materially 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
                                            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.</FONT></TD></TR></TABLE>

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<P STYLE="font: normal 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">(pp) <U>Material
Properties</U><B><I>.</I></B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Material Properties are the only mineral properties currently material to the Company in
                                            which the Company, the Subsidiaries or the Joint Venture Entities have an interest.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company, either directly or through the 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 Time of Sale Prospectus and the Prospectuses under 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.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
                                            leases or claims and Permits relating to the Material Properties in which the Company (through
                                            the applicable Subsidiary or Joint Venture Entity) 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 Time of Sale Prospectus and the Prospectuses or with only such exceptions as do not
                                            materially interfere with the current use made by the Company or the applicable Subsidiary
                                            or Joint Venture Entity of such leases or claims so held.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company, the Subsidiaries or the Joint Venture Entities, or trustees on their respective
                                            behalf, 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 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&rsquo;s ability to obtain the Permits, 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 Company or the applicable Subsidiary or Joint Venture Entity 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.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company (through the applicable Subsidiary or Joint Venture Entity) has all necessary rights
                                            and interests relating to the Material Properties in which the Company (through the applicable
                                            Subsidiary) has an interest granting the Company (through the applicable 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
                                            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 Subsidiary or Joint Venture Entity
                                            of the rights or interest so held.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Subsidiary or Joint
                                            Venture Entity.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
                                            as disclosed in the Registration Statement or included or incorporated by reference in the
                                            Time of Sale Prospectus and the Prospectuses, the Company and the 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.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(viii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 any Joint Venture Entity has
                                            received notice against any Material Property.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ix)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            description of the mineral properties or other forms of real property interests set out in
                                            the Prospectuses and Time of Sale Prospectus constitutes an accurate description of the Material
                                            Properties, and all material interests held or to be held by the Company and its Subsidiaries
                                            therein.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company has undertaken an asset analysis in respect of the Material Properties, including
                                            all technical data and information, and has not found any material asset impairment and does
                                            not anticipate making any write downs in respect of the Material Property, or any parts thereof.</FONT></TD></TR></TABLE>

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<P STYLE="font: normal 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">(qq) <U>Aboriginal
Claims</U>. Other than as set forth in the Prospectuses and Time of Sale Prospectus, there are no claims or actions with respect to aboriginal
or indigenous or similar rights against or affecting the Company, any Subsidiary or any Joint Venture Entity, or pending or threatened,
including with respect to any of the Material Properties, or 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 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 is threatened or imminent with respect
thereto or activities thereon.</FONT></P>

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<P STYLE="font: normal 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">(rr) <U>Exploration
Activities</U><B>. </B>All mineral exploration activities on the properties of the Company, any Subsidiary or to the Company&rsquo;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&rsquo; 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ss) <U>Permits</U><B><I>.
</I></B>Except as disclosed in the Registration Statement or included or incorporated by reference in the Time of Sale Prospectus and
the Prospectuses,</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
                                            of the Subsidiaries and each of the Joint Venture Entities have obtained or identified all
                                            the material permits, certificates, and approvals (collectively, the &ldquo;<B>Permit</B>s&rdquo;)
                                            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;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Subsidiaries
                                            or Joint Venture Entities;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">neither
                                            the Company nor the applicable Subsidiaries know of any issue or reason why the required
                                            Permits should not be approved and obtained in the ordinary course; and</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">all
                                            assessments or other work required to be performed in relation to the material mineral claims
                                            of the Company and the applicable 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 Time of Sale Prospectus and the
                                            Prospectuses, the Company and the applicable 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 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.</FONT></TD></TR></TABLE>

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

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<P STYLE="font: normal 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">(tt) <U>NI
43-101 Technical Reports</U><I>.</I></FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 &ldquo;<B>Reports</B>&rdquo;), 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;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            Reports complied in all material respects with the requirements of NI 43-101 as at the date
                                            of each such Report;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">all
                                            of the material assumptions underlying the mineral resource estimates, estimated economic
                                            parameters and economic analysis in the Reports are, to the knowledge of the Company, reasonable
                                            and appropriate and the estimates of mineral reserves and mineral resources, estimated economic
                                            parameters and economic analysis, as described in the Prospectuses and Time of Sale Prospectus,
                                            comply in all material respects with Applicable Securities Laws, subject to current technical
                                            reports superseding prior reports. The information set forth in the Prospectuses and Time
                                            of Sale Prospectus relating to mineral reserves and mineral resources, estimated economic
                                            parameters and economic analysis required to be disclosed therein pursuant to Applicable
                                            Securities Laws has been prepared by the Company and its consultants in accordance with methods
                                            generally applied in the mining industry and conforms, in all material respects, to the requirements
                                            of Applicable Securities Laws;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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; and</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">except
                                            as disclosed in the Registration Statement or included or incorporated by reference in the
                                            Time of Sale Prospectus and the Prospectuses, all scientific and technical information disclosed
                                            in the Registration Statement or included or incorporated by reference in the Time of Sale
                                            Prospectus and the Prospectuses: (i) is based upon information prepared, reviewed and/or
                                            verified by or under the supervision of a &ldquo;qualified person&rdquo; (as such term is
                                            defined in NI 43-101), (ii) has been prepared and disclosed in accordance with Canadian industry
                                            standards set forth in NI 43- 101, and (iii) was true, complete and accurate in all material
                                            respects at the time of filing.</FONT></TD></TR></TABLE>

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

<P STYLE="font: normal 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">(uu) <U>[Reserved]</U>.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(vv) <U>Insurance</U><B><I>.
</I></B>The Company, the Subsidiaries and 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 at each Applicable Time. 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ww) <U>Employment
Matters</U>:</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company, each of the Subsidiaries and 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.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 any Joint Venture Entity.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Subsidiaries (the &ldquo;<B>Employee Plans</B>&rdquo;)
                                            has been maintained in material compliance with its terms and with the requirements prescribed
                                            by any and all statutes, orders, rules and regulations that are applicable to such Employee
                                            Plan.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD></TR></TABLE>

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

<P STYLE="font: normal 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">(xx)   <U>Related
Party Transactions</U><I>. </I>Except as disclosed in the Registration Statement or included or incorporated by reference in the Time
of Sale Prospectus and the Prospectuses:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">neither
                                            the Company nor any 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 &ldquo;arm&rsquo;s length&rdquo; (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;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">except
                                            as disclosed in the Registration Statement or included or incorporated by reference in 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 Subsidiary
                                            is a party to any contract, agreement or understanding with any officer, director, employee,
                                            shareholder or any other person not dealing at arm&rsquo;s length with it; and</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD></TR></TABLE>

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

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

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

<P STYLE="font: normal 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">(yy) <U>Taxes</U><B><I>.
</I></B>The Company and each of the 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 Time of Sale Prospectus and the Prospectuses, no tax deficiency has been determined adversely
to the Company or any of the 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(zz) <U>Investment
Company Act</U>. Neither the Company nor any of the Subsidiaries is or, after giving effect to the offering and sale of the Placement
Shares and the application of the proceeds thereof as described in the Registration Statement or included or incorporated by reference
in 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(aaa) <U>ERISA</U>.
The Company does not have a material employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security
Act of 1974, as amended.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(bbb) <U>Company
is not a &ldquo;Controlled Foreign Corporation</U>&rdquo;<B><I>. </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 958 of the Internal Revenue
Code of 1986, as amended (the &ldquo;Code&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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ccc) <U>No
Price Stabilization or Manipulation; Compliance with Regulation M</U>. 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 Shares, as applicable, or any other &ldquo;reference security&rdquo; (as defined in Rule 100 of Regulation M under the Exchange
Act (&ldquo;<B>Regulation M</B>&rdquo;)) whether to facilitate the sale or resale of the Placement Shares, as applicable, or otherwise,
and has taken no action which would directly or indirectly violate Regulation M.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ddd) [<U>Reserved</U>].</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(eee) <U>Environmental
Laws</U><B>. </B>Except as disclosed in the Registration Statement or included or incorporated by reference in the Time of Sale Prospectus
and the Prospectuses:</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
                                            of the Company, the Subsidiaries and 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 &ldquo;<B>Environmental Laws</B>&rdquo;)
                                            relating to the protection of the environment, occupational health and safety or the processing,
                                            generation, use, treatment, storage, disposal, discharge, transport, or handling of any pollutants,
                                            contaminants, chemicals or industrial, toxic, radioactive or hazardous wastes or substance,
                                            including any uranium or derivatives thereof (the &ldquo;<B>Hazardous Substances</B>&rdquo;);</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
                                            of the Company, the Subsidiaries and the Joint Venture Entities has obtained all licenses,
                                            permits, approvals, consents, certificates, registrations and other authorizations under
                                            all applicable Environmental Laws (the &ldquo;<B>Environmental Permits</B>&rdquo;) necessary
                                            as at the date hereof for the operation of the businesses carried on by the Company and the
                                            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 neither the Company nor the Subsidiaries
                                            or Joint Venture Entities is in material default or breach of any Environmental Permit, no
                                            proceeding is pending or threatened, to revoke or limit any Environmental Permit, and a timely
                                            and complete renewal application has been submitted for any Environmental Permit that will
                                            expire within the next six (6) months;</FONT></TD></TR>
</TABLE>

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

<P STYLE="margin: 0"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt">
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            Company, the Subsidiaries and the Joint Venture Entities, are in material compliance with
                                            all Environmental Laws and Environmental Permits with respect to the processing, generation,
                                            use, treatment, storage, discharge, transport, disposal and handling of Hazardous Substances;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">none
                                            of the Company, the Subsidiaries nor the Joint Venture Entities has received any notice of,
                                            or been prosecuted or sued for an offence, violation or claim alleging, material non-compliance
                                            with or material liability under any Environmental Law , and neither the Company nor the
                                            Subsidiaries (including, if applicable, any predecessor companies) has settled any allegation
                                            of material non-compliance with, or material liability under, any Environmental Law short
                                            of prosecution. There are no orders or directions or settlements relating to environmental
                                            matters requiring any material work, repairs, construction or capital or other expenditures
                                            to be made with respect to any of the assets or operations of the Company or the Subsidiaries,
                                            nor has the Company or the Subsidiaries received notice of any of the same which has not
                                            been addressed;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">none
                                            of the Company, any Subsidiary or any Joint Venture Entity has received any notice wherein
                                            it is alleged or stated that the Company or the Subsidiaries is potentially responsible for
                                            a federal, provincial, municipal or local clean-up site or corrective action under any Environmental
                                            Laws;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">none
                                            of the Company, any Subsidiary or any Joint Venture Entity has received any request for information
                                            in connection with any federal, state, municipal or local inquiries as to transportation
                                            of Hazardous Substances or sites used for the disposal of Hazardous Substances and there
                                            are no environmental audits, evaluations, assessments, studies or tests being conducted by
                                            any federal, provincial, municipal or local authority in connection with Environmental Laws
                                            except for ongoing audits, evaluations, assessments, studies or tests being conducted in
                                            the ordinary course; and</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            Company, each of the Subsidiaries and each of the Joint Venture Entities is in compliance
                                            in all material respects with all applicable workers&rsquo; compensation and health and safety
                                            and workplace laws, regulations and policies.</FONT></TD></TR></TABLE>

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

<P STYLE="font: normal 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">(fff) <U>Finder&rsquo;s
Fee&rsquo;s</U><B><I>. </I></B>Neither the Company nor any of the 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 Agents pursuant to this Agreement.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ggg) <U>Broker/Dealer
Relationships</U>. Neither the Company nor any of the Subsidiaries or any related entities (i) is required to register as a &ldquo;broker&rdquo;
or &ldquo;dealer&rdquo; in accordance with the provisions of the Exchange Act or (ii) 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).</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(hhh) <U>Dividend
Restrictions</U>. Except as may be restricted by Applicable Law, no Subsidiary is prohibited or restricted, directly or indirectly, from
paying dividends to the Company, or from making any other distribution with respect to such Subsidiaries&rsquo; equity securities or
from repaying to the Company or any other Subsidiaries any amounts that may from time to time become due under any loans or advances
to such Subsidiaries from the Company or from transferring any property or assets to the Company or to any other Subsidiaries.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(iii)   <U>No
Improper Practices</U><B><I>. </I></B>(i) Neither the Company nor, to the Company&rsquo;s knowledge, the 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 Time of Sale Prospectus and the Prospectuses; (ii) no relationship, direct
or indirect, exists between or among the Company or, to the Company&rsquo;s knowledge, any 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 Subsidiary, on
the other hand, that is required by the U.S. Securities Act or Canadian Securities Laws to be described in the Registration Statement
or included or incorporated by reference in the Time of Sale Prospectus and the Prospectuses that is not so described; (iii) no relationship,
direct or indirect, exists between or among the Company or any 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 Subsidiary, on the other hand, that is required by
the rules of FINRA (or Canadian equivalent thereof) to be described in the Registration Statement or included or incorporated by reference
in the Time of Sale Prospectus and the Prospectuses that is not so described; (iv) except as disclosed in the Registration Statement
or included or incorporated by reference in the Time of Sale Prospectus and 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 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; (v) the Company has not
offered, or caused any placement agent to offer, Shares or to make any payment of funds to any person with the intent to influence unlawfully
(A) a customer or supplier of the Company or any Subsidiary to alter the customer&rsquo;s or supplier&rsquo;s level or type of business
with the Company or any Subsidiary or (B) a trade journalist or publication to write or publish favorable information about the Company
or any Subsidiary or any of their respective products or services, and, (vi) neither the Company nor any Subsidiary nor to the Company&rsquo;s
knowledge, any director, officer, employee or agent of the Company or any Subsidiary has made any payment of funds of the Company or
any 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)).</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(jjj) <U>Operations</U>.
The operations of the Company and the Subsidiaries are and have been conducted at all times in compliance with applicable financial record
keeping and reporting requirements of 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 and regulations thereunder, and the money laundering statutes of all
applicable jurisdictions, the rules 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 Subsidiaries with respect
to the Money Laundering Laws is pending or threatened.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(kkk) <U>Physical
Uranium</U>. The physical uranium purchased by the Company and reflected on the financial statements of the Company is stored at facilities
that are licensed in accordance with the laws of the jurisdiction in which the storage facility is located for the handling and storage
of physical uranium and the owners and operators of such storage facilities are in compliance with all applicable laws relating to the
storage of the physical uranium held for the account of the Company. The Company has entered into uranium storage agreements with each
of the operators of such uranium storage facilities and (i) the Company is in compliance with its obligations under these agreements,
and (ii) the Company is not aware of any non-compliance or violation by the operators of each respective agreement.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(lll) <U>Sanctions</U><B><I>.
</I></B>(i) The Company represents that, neither the Company nor any of the Subsidiaries 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 (lll),
&ldquo;<B>Member</B>&rdquo;) that is, or is owned or controlled by a Member that is:</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1.5in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(A)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, including, without limitation, designation on OFAC&rsquo;s
                                            Specially Designated Nationals and Blocked Persons List or OFAC&rsquo;s Foreign Sanctions
                                            Evaders List (collectively, &ldquo;<B>Sanctions</B>&rdquo;), nor</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(B)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">located,
                                            organized or resident in a country or territory that is the subject of Sanctions (including,
                                            without limitation, Cuba, Iran, North Korea, Syria, the so-called Donetsk People&rsquo;s
                                            Republic, the so-called Luhansk People&rsquo;s Republic and the Crimea Region of the Ukraine).</FONT></TD></TR></TABLE>

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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</FONT></TD></TR></TABLE>

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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1.5in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(A)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(B)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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).</FONT></TD></TR></TABLE>

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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company represents and covenants that, except as disclosed in the Registration Statement
                                            or included or incorporated by reference in the Time of Sale Prospectus and the Prospectuses,
                                            for the past 5 years, it has not engaged in, is not now 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.</FONT></TD></TR></TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: normal 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">(mmm) <U>Certification
of Disclosure</U>. 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 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(nnn) <U>Filings</U><B><I>.
</I></B>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
Qualifying Authorities, 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ooo)   <U>Due
Diligence Matters</U><B><I>. </I></B>To the Company&rsquo;s knowledge, all documents and information delivered and provided by or on
behalf of the Company to the Agents as a part of their due diligence in connection with the Offering were complete and accurate in all
material respects.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(ppp) <U>Cybersecurity</U>.
The Company and its subsidiaries&rsquo; information technology assets and equipment, computers, systems, networks, hardware, software,
websites, applications, and databases (collectively, &ldquo;<B>IT Systems</B>&rdquo;) are adequate for, and operate and perform in all
material respects as required in connection with the operation of the business of the Company as currently conducted, free and clear
of all material bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants. The Company and its subsidiaries have
implemented and maintained commercially reasonable physical, technical and administrative controls, policies, procedures, and safeguards
to maintain and protect their material confidential information and the integrity, continuous operation, redundancy and security of all
IT Systems and data, including all &ldquo;<B>Personal Data</B>&rdquo; (as defined below) and all sensitive, confidential or regulated
data (&ldquo;<B>Confidential Data</B>&rdquo;) used in connection with their businesses. &ldquo;<B>Personal Data</B>&rdquo; means (i)
a natural person&rsquo;s name, street address, telephone number, e-mail address, photograph, social security number or tax identification
number, driver&rsquo;s license number, passport number, credit card number, bank information, or customer or account number; (ii) any
information which would qualify as &ldquo;personally identifying information&rdquo; under the Federal Trade Commission Act, as amended;
(iii) &ldquo;personal data&rdquo; as defined by GDPR; (iv) any information which would qualify as &ldquo;protected health information&rdquo;
under the Health Insurance Portability and Accountability Act of 1996, as amended by the Health Information Technology for Economic and
Clinical Health Act (collectively, &ldquo;<B>HIPAA</B>&rdquo;); (v) any &ldquo;personal information&rdquo; as defined by the California
Consumer Privacy Act (&ldquo;<B>CCPA</B>&rdquo;); and (vi) any other piece of information that allows the identification of such natural
person, or his or her family, or permits the collection or analysis of any data related to an identified person&rsquo;s health or sexual
orientation. There have been no breaches, violations, outages or unauthorized uses of or accesses to same, except for those that have
been remedied without material cost or liability or the duty to notify any other person, nor any incidents under internal review or investigations
relating to the same. The Company and its subsidiaries are presently in material compliance with all applicable laws or statutes and
all judgments, orders, rules 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, Confidential Data, and Personal Data and to the protection
of such IT Systems, Confidential Data, and Personal Data from unauthorized use, access, misappropriation or modification.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(qqq) <U>Compliance
with Data Privacy Laws</U>. The Company and its subsidiaries are, and at all prior times were, in material compliance with all applicable
state and federal data privacy and security laws and regulations, including without limitation HIPAA, CCPA, and the European Union General
Data Protection Regulation (&ldquo;<B>GDPR</B>&rdquo;) (EU 2016/679) (collectively, the &ldquo;<B>Privacy Laws</B>&rdquo;). To ensure
compliance with the Privacy Laws, the Company has in place, complies with, and takes appropriate steps to ensure compliance in all material
respects with their policies and procedures relating to data privacy and security and the collection, storage, use, processing, disclosure,
handling, and analysis of Personal Data and Confidential Data (the &ldquo;<B>Policies</B>&rdquo;). The Company has at all times made
all disclosures to users or customers required by applicable laws and regulatory rules or requirements, and none of such disclosures
made or contained in any Policies have been inaccurate or in violation of any applicable laws and regulatory rules or requirements in
any material respect. The Company further certifies that neither it nor any subsidiary: (i) has received notice of any actual or potential
liability under or relating to, or actual or potential violation of, any of the Privacy Laws, and has no knowledge of any event or condition
that would reasonably be expected to result in any such notice; (ii) is currently conducting or paying for, in whole or in part, any
investigation, remediation, or other corrective action pursuant to any Privacy Law; or (iii) is a party to any order, decree, or agreement
that imposes any obligation or liability under any Privacy Law.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(rrr) <U>Exchange
Registration</U><B><I>. </I></B>The Shares are registered pursuant to Section 12(b) of the Exchange Act and are accepted for trading
on the NYSE American under the symbol &ldquo;EU&rdquo; and the TSXV under the symbol &ldquo;EU&rdquo;, and the Company has taken no action
designed to terminate the registration of the Shares under the Exchange Act or delisting the Shares from either of the Exchanges, nor,
except as disclosed in the Registration Statement or included or incorporated by reference in the Time of Sale Prospectus and the Prospectuses,
has the Company received any notification that the SEC, the Canadian Qualifying Authorities 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 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 Shares thereon. As at each Applicable Time, 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 Qualifying Authorities, where applicable, required for the listing and trading of the Placement 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.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(sss) <U>Purchases
by the Agents</U>. The Company acknowledges and agrees that the Agents have informed the Company that the Agents may, but are not required
to, to the extent permitted under Canadian Securities Laws and U.S. Securities Laws and this Agreement, purchase and sell Shares for
the Agents&rsquo; own respective accounts and for the accounts of their respective clients at the same time as sales of Placement Shares
occur pursuant to this Agreement.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ttt)
<U>COVID-19</U>. Except as mandated by or in conformity with the recommendations or requirements of a Governmental Authority, there has
been no closure or suspension of operations at the Material Properties as a result of the COVID-19 pandemic.</FONT></P>

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

<P STYLE="text-align: justify; font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(uuu) <U>Suppliers
and Contractors</U>. No existing supplier, manufacturer or contractor of the Company or its Subsidiaries has indicated that it intends
to terminate its relationship with the Company or its Subsidiaries or that it will be unable to meet the Company&rsquo;s or Subsidiaries&rsquo;
supply, manufacturing or contracting requirements.</FONT></P>

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

<P STYLE="text-align: justify; font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vvv) <U>Margin
Rules</U>. Neither the issuance, sale and delivery of the Placement Shares nor the application of the proceeds thereof by the Company
as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal
Reserve System or any other regulation of such Board of Governors.</FONT></P>

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

<P STYLE="text-align: justify; font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xxx)   <U>Stock
Transfer Taxes</U>. On each Settlement Date, all stock transfer or other taxes (other than income taxes) which are required to be paid
in connection with the sale and transfer of the Placement Shares to be sold hereunder will be, or will have been, fully paid or provided
for by the Company and all laws imposing such taxes will be or will have been fully complied with.</FONT></P>

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

<P STYLE="text-align: justify; font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
certificate signed by an officer of the Company and delivered to the Agents or to counsel for the Agents pursuant to or in connection
with this Agreement shall be deemed to be a representation and warranty by the Company, as applicable, to the Agents as to the matters
set forth therein.</FONT></P>

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

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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

<P STYLE="font: normal 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; text-transform: uppercase"><B>8
</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Covenants of the Company.</U></FONT></B></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company covenants and agrees with the Agents that:</FONT></P>

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

<P STYLE="font: normal 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">(a)   <U>Prospectus
and Registration Statement Amendments.</U> After the date of this Agreement and until the completion of the sales contemplated hereunder,
(i) the Company will notify the Agents promptly of the time when any subsequent amendment to the Canadian Base Prospectus or the Registration
Statement has been filed with any Canadian Qualifying Authority or the SEC and has become effective or where a receipt has been issued
therefor, as applicable, or any subsequent supplement to the U.S. Prospectus or the Canadian Prospectus has been filed (each, an &ldquo;<B>Amendment
Date</B>&rdquo;) and of any request by the SEC or any Canadian Qualifying Authority for any amendment to the Registration Statement,
the Time of Sale Prospectus or the Prospectuses or for additional information; (ii) the Company will file promptly all other material
required to be filed by it with the SEC pursuant to Rule 433(d) and with the Canadian Qualifying Authorities; (iii) the Company will
submit to the Agents a copy of any amendment or supplement to the Registration Statement, the Time of Sale Prospectus or the Prospectuses
(other than a copy of any documents incorporated by reference into the Registration Statement, the Time of Sale Prospectus or the Prospectuses)
a reasonable period of time before the filing thereof and will afford the Agents and the Agents&rsquo; counsel a reasonable opportunity
to comment on any such proposed filing prior to such proposed filing and to perform any due diligence investigations as may reasonably
be required; and (iv) the Company will furnish to the Agents at the time of filing thereof a copy of any document that upon filing is
deemed to be incorporated by reference in the Registration Statement, the Time of Sale Prospectus or the Prospectuses (provided that
the Company shall not be required to deliver documents or information incorporated by reference into the Registration Statement, the
Time of Sale Prospectus or the Prospectuses if such documents are accessible from SEDAR or EDGAR) and the Company will cause (i) each
amendment to the U.S. Prospectus to be filed with the SEC as required pursuant to General Instruction II.L of Form F-10 of the Rules
and Regulations or, in the case of any document to be incorporated therein by reference, to be filed with the SEC as required pursuant
to the Exchange Act, within the time period prescribed and (ii) each amendment or supplement to the Canadian Prospectus to be filed with
the Canadian Qualifying Authorities as required pursuant to Shelf Procedures or, in the case of any document to be incorporated therein
by reference, to be filed with the Canadian Qualifying Authorities as required pursuant to the Canadian Securities Laws, within the time
period prescribed.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(b)   <U>Notice
of Stop Orders</U>. The Company will advise the Agents, promptly after it receives notice thereof, of the issuance by the SEC or the
Canadian Qualifying Authorities of any stop order or of any order preventing or suspending the use of the Prospectuses or other prospectus
in respect of the Shares, of any notice of objection of the SEC to the use of the Registration Statement or any post-effective amendment
thereto, of the suspension of the qualification of the Shares for offering or sale in the Offering Jurisdictions, of the initiation or
threatening of any proceeding for any such purpose, or of any request by the SEC or the Canadian Qualifying Authorities for the amending
or supplementing of the Registration Statement or the Prospectuses or for additional information relating to the Shares. If there is
a Placement Notice that has been issued by the Company that has not been suspended or terminated in accordance with the notice requirements
set forth in Section 4 or Section 14, as applicable, the Company will use its commercially reasonable efforts to prevent the issuance
of any stop order or any order preventing or suspending the use of the Prospectuses or other prospectus in respect of the Shares, a notice
of objection of the SEC to the Registration Statement or any post-effective amendment thereto, the suspension of any qualification for
offering or sale in the Offering Jurisdictions, and, in the event of the issuance of any such stop order or any such order preventing
or suspending the use of any prospectus relating to the Shares or suspending any such qualification, the Company will use its commercially
reasonable efforts to obtain the lifting or withdrawal of such order as soon as possible. If there is no such outstanding Placement Notice,
then, if, in the Company&rsquo;s determination and at the Company&rsquo;s sole discretion, it is necessary to prevent the issuance of
any stop order or have a stop order lifted, the Company will use its commercially reasonable efforts to prevent the issuance of any stop
order or any order preventing or suspending the use of the Prospectuses or other prospectus in respect of the Shares, a notice of objection
of the SEC to the Registration Statement or any post-effective amendment thereto, the suspension of any qualification for offering or
sale in the Offering Jurisdictions, and, in the event of the issuance of any such stop order or any such order preventing or suspending
the use of any prospectus relating to the Shares or suspending any such qualification, the Company will use its commercially reasonable
efforts to obtain the lifting or withdrawal of such order as soon as possible.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(c)   <U>Delivery
of Prospectus; Subsequent Changes</U>. Within the time during which a prospectus relating to the Shares is required to be delivered by
the Agents under the U.S. Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 153, Rule
172 or Rule 173(a) under the U.S. Securities Act) or the Canadian Securities Laws, the Company will comply in all material respects with
all requirements imposed upon it by the U.S. Securities Act, by the Rules and Regulations and by the Canadian Securities Laws, as appropriate
and as from time to time in force, and will file or furnish on or before their respective due dates all reports required to be filed
or furnished by it with the SEC pursuant to Sections 13(a), 13(c), or 15(d) of the Exchange Act, if applicable, or any other provision
of or under the Exchange Act or with the Canadian Qualifying Authorities pursuant to the Canadian Securities Laws, as appropriate. If
during such period any event occurs as a result of which the Time of Sale Prospectus or the Prospectuses as then amended or supplemented
would include an untrue statement of material fact or omit to state a material fact necessary to make the statements therein, in the
light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration
Statement, the Time of Sale Prospectus or the Prospectuses to comply with the U.S. Securities Act or the Canadian Securities Laws, the
Company will immediately notify the Agents to suspend the offering of Placement Shares during such period and, if, in the Company&rsquo;s
determination and at the Company&rsquo;s sole discretion, it is necessary to file an amendment or supplement to the Registration Statement,
the Time of Sale Prospectus or the Prospectuses to comply with the U.S. Securities Act or the Canadian Securities Laws, the Company will
promptly prepare and file with the Canadian Qualifying Authorities and the SEC such amendment or supplement as may be necessary to correct
such statement or omission or to make the Registration Statement, the Time of Sale Prospectus or the Prospectuses comply with such requirements,
and the Company will furnish to the Agents such number of copies of such amendment or supplement as the Agents may reasonably request.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(d)   <U>Delivery
of Registration Statement and Prospectuses</U>. The Company will furnish to the Agents and their counsel (at the expense of the Company)
copies of the Registration Statement, the Time of Sale Prospectus or the Prospectuses (including all documents incorporated by reference
therein) and all amendments and supplements to the Registration Statement, the Time of Sale Prospectus or the Prospectuses that are filed
with the SEC or Canadian Qualifying Authorities during the period in which a prospectus relating to the Shares is required to be delivered
under the U.S. Securities Act (including all documents filed with the SEC during such period that are deemed to be incorporated by reference
therein) or the Canadian Qualifying Authorities (including all documents filed with the Canadian Qualifying Authorities during such period
that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities as the
Agents may from time to time reasonably request provided, however, the Company shall not be required to furnish any documents to the
Agents that are available on SEDAR or EDGAR.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(e)   <U>Company
Information</U>. At the request of the Agents, the Company will furnish to the Agents such information in its possession as is reasonably
requested by the Agents as necessary or appropriate to fulfil its obligations as agent pursuant to this Agreement, the U.S. Securities
Act and Canadian Securities Laws.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(f)   <U>Earnings
Statement</U>. The Company will make generally available to its security holders as soon as practicable, but in any event not later than
15 months after the end of the Company&rsquo;s current fiscal quarter, an earnings statement covering a 12-month period that satisfies
the provisions of Section 11(a) of the U.S. Securities Act and Rule 158 under the U.S. Securities Act.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(g)   <U>Material
Non-Public Information</U>. The Company covenants that it will not issue a Placement Notice to any Agent in accordance with Section 2
hereof if the Company is in possession of material non-public information regarding the Company and the Subsidiaries, taken as a whole,
or the Shares.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(h)   <U>Expenses</U>.
The Company will pay all expenses incident to the performance of its obligations under this Agreement, including (i)&nbsp;the preparation
and filing of all registration statements, prospectuses, including supplements and amendments thereto, including any fees required by
SEC and the Canadian Qualifying Authorities, and the printing or electronic delivery of such documents as originally filed and of each
amendment and supplement thereto, in such number as the Agents shall deem necessary, (ii) the printing and delivery to the Agents of
this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the
Placement Shares, (iii)&nbsp;the preparation, issuance and delivery of the certificates, if any, for the Placement Shares to the Agents,
including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance
or delivery of the Placement Shares to the Agents, (iv)&nbsp;the fees and disbursements of the counsel, accountants and other advisors
to the Company, (v)&nbsp;the fees and expenses of Agents including but not limited to the fees and expenses of the counsels to the Agents,
payable (a) upon the execution of this Agreement, and (b) in connection with each Representation Date with respect to which the Company
is obligated to deliver a certificate pursuant to Section 7(n) for which no waiver is applicable and excluding the date of this Agreement,
(vi)&nbsp;the qualification or exemption of the Placement Shares under state securities laws, including filing fees, but excluding fees
of the Agents&rsquo; counsel, (vii)&nbsp;the printing and delivery to the Agents of copies of any free writing prospectuses and prospectuses
and any amendments or supplements thereto in such number as the Agents shall deem necessary, (viii)&nbsp;the preparation, printing and
delivery to the Agents of copies of the blue sky survey, (ix)&nbsp;the fees and expenses of the transfer agent and registrar for the
Shares, (x)&nbsp;the filing and other fees incident to any review by FINRA of the terms of the sale of the Placement Shares including
the fees of the Agents&rsquo; counsel (subject to the cap, set forth in clause (v) above), and (xi)&nbsp;the fees and expenses incurred
in connection with the listing of the Placement Shares on the Exchanges. The Company agrees to pay the fees and expenses of counsel to
the Agents set forth in clause (v) above by wire transfer of immediately available funds directly to such counsel upon presentation of
an invoice containing the requisite payment information prepared by such counsel; <I>provided however</I> that the fees of the counsels
to the Agents payable by the Company in clause (v)(a) above shall not exceed US$175,000 plus the fees of any Canadian counsel to the Agents
and in clause (v)(b) above shall not exceed US$25,000 plus the fees of any Canadian counsel to the Agents, in each case, without the express
written consent of the Company. All fees and expenses are to be paid in the currency in which such fees and expenses were incurred.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(i)   <U>Use
of Proceeds</U>. The Company will use the Net Proceeds as described in the Time of Sale Prospectus and the Prospectuses.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(j)   <U>Change
of Circumstances</U>. During the term of this Agreement, the Company will, at any time during a fiscal quarter in which the Company intends
to deliver a Placement Notice to the Agents to sell Placement Shares, advise the Agents promptly after it has received notice or obtained
knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate, letter or
other document provided to the Agents pursuant to this Agreement.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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"></FONT></P>

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<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(k)   <U>Due
Diligence Cooperation</U>. The Company will cooperate with any reasonable due diligence review conducted by the Agents or their agents,
including, without limitation, providing information and making available documents and senior corporate officers, as the Agents or their
counsel may reasonably request; provided, however, that the Company shall be required to make available senior corporate officers only
(i) by telephone or at the Company&rsquo;s principal offices and (ii) during the Company&rsquo;s ordinary business hours. In connection
with a Representation Date, the Company will, at the request of the Agents, make available senior corporate officers and its auditors,
for a bring-down due diligence session in connection with the filing of any documents triggering a Representation Date.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(l)   <U>Affirmation
of Representations, Warranties, Covenants and Other Agreements</U>. Upon commencement of the offering of the Placement Shares under this
Agreement (and upon the recommencement of the offering of the Placement Shares under this Agreement following any suspension of sales
under Section 4), and at each Applicable Time and each Amendment Date, the Company shall be deemed to have affirmed each representation
and warranty contained in this Agreement.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(m)   <U>Required
Filings Relating to Sale of Placement Shares</U>. In each quarterly report, annual information form, annual financial statements, or
annual report on Form 40-F, Form 20-F or Form 10-K filed by the Company in respect of any period in which sales of Placement Shares were
made by the Agents under this Agreement, the Company shall set forth with regard to such period the number of Placement Shares sold through
the Agents under this Agreement, the Net Proceeds received by the Company and the compensation paid by the Company to the Agents with
respect to sales of Placement Shares pursuant to this Agreement. For so long as the Shares are listed on the TSXV, the Company will provide
the TSXV with all information it requires with respect to the Offering within the timelines prescribed by the TSXV.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(n)   <U>Representation
Dates; Certificate</U>. During the term of this Agreement, each time the Company (i) files the Prospectuses relating to the Placement
Shares or amends or supplements the Registration Statement or the Prospectuses relating to the Placement Shares by means of a post-effective
amendment or supplement but not by means of incorporation of document(s) by reference to the Registration Statement or the Prospectuses
relating to the Placement Shares; (ii) files or amends an annual report on Form 40-F, Form 20-F or Form 10-K or (iii) files or amends
interim financial statements on Form 6-K; or (iv) at any other time reasonably requested by the Agents (each date of filing of one or
more of the documents referred to in clauses (i) through (iii) and at any time of request pursuant to (iv) above shall be a &ldquo;<B>Representation
Date</B>&rdquo;), the Company shall furnish the Agents with a certificate, in the form attached hereto as Schedule &ldquo;D&rdquo; within
three (3) Trading Days of any Representation Date. For greater certainty, any supplement in this Section shall only include a prospectus
supplement relating to the Placement Shares. The requirement to provide a certificate under this Section 8(n) shall be waived for any
Representation Date occurring at a time at which no Placement Notice is pending, which waiver shall continue until the earlier to occur
of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date)
and the next occurring Representation Date; provided, however, that such waiver shall not apply for any Representation Date on which
the Company files its annual report on Form 40-F, Form 20-F or Form 10-K. Notwithstanding the foregoing, if the Company subsequently
decides to sell Placement Shares following a Representation Date when the Company relied on such waiver and did not provide the Agents
with a certificate under this Section 8(n), then on or before the time the Company delivers the Placement Notice or the Agents sells
any Placement Shares, the Company shall provide the Agents with a certificate, in the form attached hereto as Schedule &ldquo;D&rdquo;,
dated the date of the Placement Notice.</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<P STYLE="font: normal 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">(o)   <U>Legal
Opinions</U>. Upon execution of the Agreement and within three (3) Trading Days of each Representation Date or other date with respect
to which the Company is obligated to deliver a certificate in the form attached hereto as Schedule &ldquo;D&rdquo; for which no waiver
is applicable and concurrently with the delivery of a certificate pursuant to the last sentence of Section 8(n), the Company will furnish
or cause to be furnished to the Agents and to counsel to the Agents:</FONT></P>

<P STYLE="font: normal 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">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            written Canadian legal opinion of Morton Law LLP, as Canadian legal counsel for the Company,
                                            such opinion letter to be substantially similar to the form attached hereto as Schedule &ldquo;E&rdquo;,
                                            modified as necessary to relate to the Prospectuses as then amended or supplemented;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            written U.S. legal opinion and negative assurance letter of Dorsey &amp; Whitney LLP, as
                                            U.S. legal counsel for the Company, such opinion letters to be substantially similar to the
                                            form attached hereto as Schedule &ldquo;F&rdquo;, modified as necessary to relate to the
                                            Registration Statement and the Prospectuses as then amended or supplemented;</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">favourable
                                            legal opinions from legal counsel to the Company acceptable to the Agents, regarding each
                                            of the Material Subsidiaries in form and substance satisfactory to the Agents and their counsel,
                                            acting reasonably, pertaining to:</FONT></TD></TR></TABLE>

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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 1.5in"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(A)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            valid existence of such Material Subsidiary under its jurisdiction of incorporation,</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(B)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            requisite corporate or company power and capacity of such Material Subsidiary to own and
                                            lease its properties and assets and to conduct its businesses as described in the Registration
                                            Statement or the Prospectuses, and</FONT></TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: normal 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(C)</FONT></TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            authorized and issued share capital or membership interests of such Material Subsidiary and
                                            to the ownership thereof, or, in lieu any of such opinions, counsel last furnishing such
                                            opinion to the Agents may furnish the Agents with a letter to the effect that the Agents
                                            may rely on such last opinion to the same extent as though it was dated the date of such
                                            letter authorizing reliance (except that statements in such last opinion shall be deemed
                                            to relate to the Registration Statement and the Prospectuses as amended and supplemented
                                            to the time of delivery of such letter authorizing reliance);</FONT></TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">provided
that such opinions regarding the Material Subsidiaries will not be required in respect of Representation Dates where the Representation
Date does not relate to a Prospectus filing and where the officer&rsquo;s certificate provided under Section 8(n) has confirmed that
there has been no change to the ownership structure of the Material Subsidiaries since the last Representation Date.</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(p)   <U>Title
Opinions</U>. Within three (3) Trading Days of (i) each Amendment Date, (ii) each time the Company files or amends an annual information
form, annual financial statements, or an annual report on Form 40-F, Form 20-F or Form 10-K (iii) any material change to the ownership
or title of the Company to the Material Properties or (iv) the determination by the Company that any property in addition to the Material
Properties is material to the Company, the Company shall cause to be furnished to the Agents a title opinion or report or other evidence
of title acceptable to the Lead Agents in respect of the Material Properties (or such other material property), provided that such opinions,
reports or evidence regarding the Material Properties will not be required in respect of Representation Dates where the Representation
Date does not relate to a Prospectus filing and where the officer&rsquo;s certificate provided under Section 8(n) has confirmed that there
has been no material change to the Material Properties or material change to the ownership structure of the Material Properties since
the last Representation Date.</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">(q)   <U>Comfort
Letters</U>. Upon execution of this Agreement and within three (3) Trading Days of each Representation Date or other date with respect
to which the Company is obligated to deliver a certificate in the form attached hereto as Schedule &ldquo;D&rdquo; for which no waiver
is applicable and concurrently with the delivery of a certificate pursuant to the last sentence of Section 8(n), the Company shall cause
its auditors to furnish the Agents letters (the &ldquo;<B>Comfort Letters</B>&rdquo;) dated the date the Comfort Letter is delivered,
in form and substance satisfactory to the Agents, acting reasonably, in each case addressed to the Agents, (x) relating to the verification
of certain of the financial information and statistical and accounting data relating to the Company and the Subsidiaries, as applicable,
contained in the Registration Statement and the Prospectuses or incorporated by reference therein, which comfort letters shall be based
on a review having a cut-off date not more than two Business Days prior to the date of such letter, (y) stating that such auditors are
independent public accountants within the meaning of the U.S. Securities Act and the rules and regulations thereunder, and that in their
opinion the audited financial statements of the Company incorporated by reference in the Registration Statement and the Prospectuses comply
as to form in all material respects with the published accounting requirements of the U.S. Securities Act and the related regulations
and with the applicable accounting requirements of the U.S. Securities Act and the Exchange Act and the related published rules and regulations
adopted by the SEC (the first such letter, the &ldquo;<B>Initial Comfort Letter</B>&rdquo;) and (z) updating the Initial Comfort Letter
with any information which would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary
to relate to the Registration Statement and the Prospectuses, as amended and supplemented to the date of such letter.</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">(r)   <U>Market
Activities</U>. The Company will not, directly or indirectly, (i) take any action designed to or that would constitute or that might reasonably
be expected to cause or result in, under Canadian Securities Laws or U.S. Securities Laws or otherwise, stabilization or manipulation
of the price of any security of the Company to facilitate the sale or resale of the Placement Shares or (ii) sell, bid for, or purchase
the Placement Shares, or pay anyone any compensation for soliciting purchases of the Placement Shares other than the Agents.</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"></P>

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<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">(s)   <U>Investment
Company Act</U>. The Company will conduct its affairs in such a manner so as to reasonably ensure that, prior to the termination of this
Agreement, it will not be or become required to register as an &ldquo;investment company&rdquo; as defined in the <I>United States Investment
Company Act of 1940</I>, as amended, and the rules and regulations of the SEC promulgated thereunder</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">(t)   <U>Consent
to the Agents&rsquo; Trading</U>. The Company consents to the Agents trading in the Shares of the Company (to the extent permitted under
U.S. Securities Laws, Canadian Securities Laws, the rules of the Exchanges and under this Agreement): (i) for the account of their clients
at the same time as sales of Placement Shares occur pursuant to this Agreement; and (ii) for the Agents&rsquo; own accounts provided that
no such purchase or sale shall take place by an Agent while such Agent has received a Placement Notice that remains in effect, unless
the Company has expressly authorized or consented in writing to any such trades by such Agent, and provided further that in the case of
clauses (i) or (ii), by providing such consent, the Company will incur no liability on behalf of the Agents or their clients from such
trading activity.</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">(u)   <U>Actively-Traded
Security</U>. The Company shall notify the Agents immediately by an email addressed to each of the individuals from each of the Agents
set forth on Schedule &ldquo;B&rdquo; attached hereto if the Shares cease to qualify as an &ldquo;actively-traded security&rdquo; exempted
from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection (c)(1) of such rule and the sales shall be suspended
until that or other exemptive provisions have been satisfied in the judgement of each party.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP></SUP></FONT></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">(v)   <U>Notice
of Other Sales</U>. Without the prior written consent of the Agents, the Company will not, directly or indirectly, offer to sell, sell,
contract to sell, grant any option to sell or otherwise dispose of any Shares (other than the Placement Shares offered pursuant to this
Agreement) or securities convertible into or exchangeable for Shares, warrants or any rights to purchase or acquire, Shares during the
period beginning on the fifth (5th) Trading Day immediately prior to the date on which any Placement Notice is delivered to Agent hereunder
and ending on the fifth (5th) Trading Day immediately following the final Settlement Date with respect to Placement Shares sold pursuant
to such Placement Notice (or, if the Placement Notice has been terminated or suspended prior to the sale of all Placement Shares covered
by a Placement Notice, the date of such suspension or termination); and will not directly or indirectly in any other &ldquo;at the market&rdquo;
or continuous equity transaction offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Shares (other
than the Placement Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Shares, warrants or any
rights to purchase or acquire, Shares prior to the fifteenth (15th) day immediately following the termination of this Agreement; provided,
however, that such restrictions will not be required in connection with the Company&rsquo;s issuance or sale of (i) Shares, options to
purchase Shares or Shares issuable upon the exercise of options, pursuant to any employee or director stock option or benefits plan, stock
ownership plan or dividend reinvestment plan (but not Shares subject to a waiver to exceed plan limits in its dividend reinvestment plan)
of the Company whether now in effect or hereafter implemented, (ii) Shares issuable upon conversion of securities or the exercise of warrants,
options or other rights in effect or outstanding, and disclosed in filings by the Company available on EDGAR or otherwise in writing to
the Agents and (iii) Shares or securities convertible into or exchangeable for shares of Shares as consideration for mergers, acquisitions,
other business combinations or strategic alliances occurring after the date of this Agreement which are not issued for capital raising
purposes.</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"></P>

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<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">(w)   <U>Blue
Sky and Other Qualifications</U><I>. </I> The Company will use its commercially reasonable efforts, in cooperation with the Agents, to
qualify the Placement Shares for offering and sale, or to obtain an exemption for the Placement Shares to be offered and sold, under the
applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Agents may designate and to maintain such
qualifications and exemptions in effect for so long as required for the distribution of the Placement Shares (but in no event for less
than one year from the date of this Agreement); <I>provided</I>, <I>however</I>, that the Company shall not be obligated to file any general
consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not
so qualified or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject.
In each jurisdiction in which the Placement Shares have been so qualified or exempt, the Company will file such statements and reports
as may be required by the laws of such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so
long as required for the distribution of the Placement Shares (but in no event for less than one year from the date of this Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">9   </FONT><U>Reporting
Relating to Placement of Placement Shares</U></P>

<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">Each Lead Agent will use commercially reasonable
efforts to deliver to the Company, for each interim and annual period during which Placement Shares are sold through such Lead Agent or
distributed pursuant to this Agreement, and otherwise as reasonably requested by the Company to enable the Company to meet its interim
and annual reporting requirements under Canadian Securities Laws, U.S. Securities Laws or any applicable requirements of the Exchanges
or any other Canadian Marketplace or United States Marketplace, promptly upon a request from the Company, a report providing sufficient
information regarding the distribution of the Placement Shares for the Company to meet its interim and annual reporting requirements under
Canadian Securities Laws, U.S. Securities Laws or any applicable requirements of the Exchanges or any other Canadian Marketplace or United
States Marketplace. Unless Canadian Securities Laws, U.S. Securities Laws, the applicable requirements of the Exchanges or such other
Canadian Marketplace or United States Marketplace otherwise require, the Company and the Lead Agents agree that the Lead Agents&rsquo;
reports referred to in this Section 9 shall state the number and average price of Placement Shares issued on all Settlement Dates occurring
during the interim or annual period, as applicable, and the aggregate gross and the aggregate Net Proceeds raised and the aggregate commission
paid or payable, during the interim or annual period, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">10   </FONT><U>Additional
Representations and Covenants of the Company</U></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">(a)   Issuer
Free Writing Prospectuses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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 represents that it has not made, and covenants that, unless it obtains the prior written consent
of the Agents, it will not make any offer relating to the Placement Shares that would constitute an Issuer Free Writing Prospectus required
to be filed by it with the SEC or retained by the Company under Rule 433; except as set forth in a Placement Notice, no use of any Issuer
Free Writing Prospectus has been consented to by the Agents. The Company agrees that it will comply with the requirements of Rules 164
and 433 under the U.S. Securities Act applicable to any Issuer Free Writing Prospectus, including timely filing with the SEC or retention
where required and legending.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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 agrees that no Issuer Free Writing Prospectus, if any, will include any information that conflicts
with the information contained in Time of Sale Prospectus, the Prospectuses or the Registration Statement, including any document incorporated
by reference therein that has not been superseded or modified. In addition, no Issuer Free Writing Prospectus, if any, together with the
Prospectuses, will include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading; provided however, the foregoing shall not apply to any statements
or omissions in any Issuer Free Writing Prospectus made in reliance on information furnished in writing to the Company by the Agents expressly
stating that such information is intended for use therein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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 agrees that if at any time following issuance of an Issuer Free Writing Prospectus any event
occurred or occurs as a result of which such Issuer Free Writing Prospectus would conflict with the information in the Registration Statement,
the Time of Sale Prospectus or the Prospectuses, including any document incorporated by reference therein that has not been superseded
or modified or would include an untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading, the Company will give prompt notice thereof to the
Agents and, if requested by the Agents, will prepare and furnish without charge to the Agents an Issuer Free Writing Prospectus or other
document which will correct such conflict, statement or omission; provided, however, the foregoing shall not apply to any statements or
omissions in any Issuer Free Writing Prospectus made in reliance on information furnished in writing to the Company by the Agents expressly
stating that such information is intended for use therein.</TD></TR></TABLE>

<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">(b)   <U>Non-Issuer
Free Writing Prospectus</U>. The Company consents to the use by the Agents of a free writing prospectus that (a) is not an &ldquo;Issuer
Free Writing Prospectus&rdquo; as defined in Rule 433, and (b) contains only information describing the terms of the Placement Shares
or the Offering, or information permitted under Rule 134 under the U.S. Securities Act; provided that the Agents (severally and not jointly)
covenant with the Company not to take any action that would result in the Company being required to file with the SEC under Rule 433(d)
a free writing prospectus prepared by or on behalf of the Agents that otherwise would not be required to be filed by the Company thereunder,
but for the action of the Agents.</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">(c)   <U>Distribution
of Offering Materials</U>. The Company has not distributed and will not distribute, during the term of this Agreement, any &ldquo;marketing
materials&rdquo; (as defined in National Instrument 41-101 &ndash; <I>General Prospectus Requirements</I>) in connection with the offering
and sale of the Placement Shares other than the Registration Statement, the Time of Sale Prospectus, the Prospectuses or any Issuer Free
Writing Prospectus reviewed and consented to by the Agents and included in a Placement Notice (as described in clause (a) (i) above),
provided that the Agents (severally and not jointly) covenant with the Company not to take any action that would result in the Company
being required to file with the Canadian Qualifying Authorities any &ldquo;marketing materials&rdquo; that otherwise would not be required
to be filed by the Company, but for the action of the Agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">11   </FONT><U>Conditions
to the Agents&rsquo; Obligations.</U></P>

<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">The obligations of the Agents hereunder with respect
to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein,
to the due performance by the Company of its obligations hereunder, to the completion by the Agents of a due diligence review satisfactory
to the Agents in their reasonable judgment, and to the continuing satisfaction (or waiver by the Agents in their sole discretion) of the
following additional conditions:</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">(a)   <U>Canadian
Prospectus Supplement</U>. The Canadian Prospectus Supplement shall have been filed with the Canadian Qualifying Authorities under the
Shelf Procedures and in accordance with this Agreement, all requests for additional information on the part of the Canadian Qualifying
Authorities shall have been complied with to the reasonable satisfaction of the Agents and the Agents&rsquo; counsel.</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">(b)   <U>Registration
Statement Effective</U>. The Registration Statement shall remain effective and shall be available for the sale of (i) all Placement Shares
issued pursuant to all prior Placements and not yet sold by the Agents and (ii) all Placement Shares contemplated to be issued by the
Placement Notice relating to such Placement.</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">(c)   <U>No
Material Notices</U>. None of the following events shall have occurred and be continuing: (i) receipt by the Company of any request for
additional information from the SEC, the Canadian Qualifying Authorities or any other federal or state or foreign or other governmental,
administrative or self-regulatory authority during the period of effectiveness of the Registration Statement and the Prospectuses, the
response to which would require any amendments or supplements to the Registration Statement, the Time of Sale Prospectus or the Prospectuses;
(ii) the issuance by the SEC, the Canadian Qualifying Authorities or any other federal or state or foreign or other Governmental Authority
of any stop order suspending the effectiveness of the Registration Statement or the Prospectuses or the initiation of any proceedings
for that purpose; (iii) receipt by the Company of any notification with respect to the suspension of the qualification or exemption from
qualification of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such
purpose; (iv) the occurrence of any event that makes any statement made in the Registration Statement, the Time of Sale Prospectus or
the Prospectuses or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that
requires the making of any changes in the Registration Statement, the Time of Sale Prospectus, Prospectuses or documents so that, in the
case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary to make the statements therein not misleading, and in the case of the Time of Sale Prospectus and each
Prospectus, it will not contain any untrue statement of a material fact or omit to state any 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; and (v) the
Company&rsquo;s reasonable determination that a post-effective amendment to the Registration Statement, the Time of Sale Prospectus or
Prospectuses would be appropriate.</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"></P>

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<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">(d)   <U>Material
Changes; No Misstatement or Material Omission</U>. Except as contemplated and appropriately disclosed in the time of Sale Prospectus and
the Prospectuses, or disclosed in the Company&rsquo;s reports filed with the SEC and Canadian Qualifying Authorities, in each case at
the time the applicable Placement Notice is delivered, there shall not have been any material change, on a consolidated basis, in the
authorized common share capital of the Company, or any development that causes or could reasonably be expected to cause a Material Adverse
Effect, or a downgrading in or withdrawal of the rating assigned to any of the Company&rsquo;s securities (other than asset backed securities)
by any rating organization or a public announcement by any rating organization that it has under surveillance or review its rating of
any of the Company&rsquo;s securities (other than asset backed securities), the effect of which, in the sole judgment of the Agents (without
relieving the Company of any obligation or liability it may otherwise have), acting reasonably, is so material as to make it impracticable
or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated in the Time of Sale Prospectus
and the Prospectuses and no Agent shall have advised the Company that the Registration Statement, any Prospectus or any amendment or supplement
thereto, contains an untrue statement of fact that in such Agent&rsquo;s reasonable opinion is material, or omits to state a fact that
in such Agent&rsquo;s reasonable opinion is material and is required to be stated therein or is necessary to make the statements therein
not misleading.</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">(e)   <U>Certificate</U>.
The Agents shall have received the certificate required to be delivered pursuant to Section 8(n) on or before the date on which delivery
of such certificate is required pursuant to Section 8(n).</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">(f)   <U>Legal
Opinions</U>. The Agents shall have received the opinions of counsel to be delivered pursuant to Section 8(o) on or before the date on
which such delivery of such opinions are required pursuant to Section 8(o).</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">(g)   <U>Title
Opinions.</U> The Agents shall have received the opinions to be delivered pursuant to Section 8(p) on or before the date on which such
delivery of such opinions is required pursuant to Section 8(p).</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">(h)   <U>Comfort
Letters</U>. The Agents shall have received the Comfort Letters required to be delivered pursuant Section 8(q) on or before the date on
which such delivery of such letter is required pursuant to Section 8(q).</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">(i)   <U>Due
Diligence.</U> The Company shall have complied with all of its due diligence obligations required pursuant to Section 8(k).</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">(j)   <U>Approval
for Listing; No Suspension</U>. The Placement Shares shall have either been (i) approved for listing, subject to notice of issuance, on
each of the Exchanges, or (ii) the Company shall have filed an application for listing of the Placement Shares on each of the Exchanges
at or prior to the issuance of the Placement Notice. Trading in the Shares shall not have been suspended on such Exchanges.</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">(k)   <U>Other
Materials</U>. On each date on which the Company is required to deliver a certificate pursuant to Section 8(n), the Company shall have
furnished to the Agents such appropriate further information, certificates and documents as the Agents may reasonably request.</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">(l)   <U>U.S.
Securities Act Filings Made</U>. All filings with the SEC required by General Instruction II. L of Form F-10, the U.S. Securities Act
and required by the Canadian Qualifying Authorities to have been filed prior to the issuance of any Placement Notice hereunder shall have
been made within the applicable time period prescribed for such filing by General Instruction II. L of Form F-10, the U.S. Securities
Act and Canadian Securities Laws.</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">(m)   <U>FINRA</U>.
If a filing with FINRA is required to be made, FINRA shall not have objected to the fairness or reasonableness of the terms or arrangements
for the Agents&rsquo; compensation under this Agreement.</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"></P>

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    <!-- Field: /Page -->

<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">(n)   <U>No
Termination Event</U>. There shall not have occurred any event that would permit the Agent to terminate this Agreement pursuant to Section
14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">12   </FONT><U>Indemnification
and Contribution</U></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">(a)   The
Company shall indemnify and hold harmless each of the Agents and the Agents&rsquo; directors, officers, shareholders, agents and employees
and each person who controls any Agent within the meaning of section 15 of the U.S. Securities Act or section 20 of the Exchange Act (collectively,
the &ldquo;<B>Indemnified Parties</B>&rdquo; and each, an &ldquo;<B>Indemnified Party</B>&rdquo;) from and against all liabilities, claims,
demands, losses (other than loss of profit in connection with the distribution of the Placement Shares), costs, damages and expenses (including,
without limitation, any legal fees or other expenses reasonably incurred by them in connection with investigating or defending any such
liability, claim, demand, or loss) (collectively, the &ldquo;<B>Losses</B>&rdquo;) in any way caused by or arising directly or indirectly
from or in consequence of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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">any information or statement (except any information or statements that has been provided in writing to
the Company by or on behalf of any Agent specifically for inclusion therein) in the Canadian Prospectus or any amendment thereto, the
U.S. Prospectus or any amendment thereto or in any other document incorporated therein by reference being alleged to be a misrepresentation
or untrue, or any omission or alleged omission to state therein any fact or information (except facts or information them that has been
provided in writing to the Company by or on behalf of any Agent specifically for inclusion therein) required to be stated therein or necessary
to make any of the statements therein not misleading in light of the circumstances in which they were made;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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 untrue statement or alleged untrue statement of a material fact in the Registration Statement or any
amendment thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein not misleading, or any untrue statement or alleged untrue statement of a material fact in the Canadian Prospectus or any amendment
thereto, U.S. Prospectus or any amendment thereto or any Issuer Free Writing Prospectus or any amendment or supplement thereto, or any
omission or alleged omission of a material fact (except facts or information that has been provided in writing to the Company by or on
behalf of any Agent specifically for inclusion therein) necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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">any order made or any inquiry, investigation (whether formal or informal) or proceeding commenced or threatened
by any securities, regulatory or other competent authority based upon any untrue statement, omission or misrepresentation or alleged untrue
statement, omission or misrepresentation (except a statement, omission or misrepresentation relating solely to the Agents or any of them
that has been provided in writing to the Company by or on behalf of any Agent specifically for inclusion therein) in the Public Record
(as defined below), preventing or restricting the trading in or the distribution of the Placement Shares or any of them in any of the
provinces and territories of Canada or in the United States;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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 not complying with any requirement of applicable Canadian Securities Laws or U.S. Securities
Laws in connection with the transactions contemplated herein.</TD></TR></TABLE>

<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">(b)   Each
Agent (severally and not jointly) agrees to indemnify and hold harmless each of the Company and its directors, officers, employees and
agents and each person who controls the Company within the meaning of Section 15 of the U.S. Securities Act and Section 20 of the Exchange
Act, from and against any and all losses (other than loss of profit in connection with the distribution of the Placement Shares), claims,
damages and liabilities (including, without limitation, the legal fees and other expenses incurred in connection with any suit, action
or proceeding or any claim asserted) caused by any untrue statement or alleged untrue statement of a material fact relating solely to
the Agents that has been provided in writing to the Company by or on behalf of any Agent specifically for inclusion therein contained
in the Time of Sale Prospectus and the Prospectuses (including any amendment or supplement if the Company shall have furnished any amendments
or supplements thereto), or any Issuer Free Writing Prospectus, or caused by any omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein not misleading.</P>

<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">The Company acknowledges that the names of the
Agents set forth on the cover and under the eighth and tenth paragraphs and the last sentence of the thirteenth paragraph under the heading
&ldquo;Plan of Distribution&rdquo; constitute the only information furnished in writing, by or on behalf of the Agents for inclusion in
the Prospectuses.</P>

<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">The above indemnification obligations in (a) and
(b) above will not apply to the extent that a court of competent jurisdiction in a final judgment that has become non-appealable shall
determine that such Losses were solely caused by the gross negligence, willful misconduct, bad faith or fraud of the Indemnified Party.
For greater certainty, the Company and the Agents agree that they do not intend that any failure by the Agents to conduct such reasonable
investigation as necessary to provide the Agents 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 12 or otherwise disentitle
the Agents from indemnification hereunder.</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">(c)   In
order to provide for just and equitable contribution in circumstances in which the indemnification provided for in Section 12 hereof is
unavailable, in whole or in part, for any reason to an Indemnified Party in respect of any liabilities, claims, demands, losses, costs,
damages and expenses referred to therein, the Company shall contribute to the amount paid or payable (or, if such indemnity is unavailable
only in respect of a portion of the amount so paid or payable, such portion of the amount so paid or payable) by such Indemnified Party
as a result of such liabilities, claims, demands, losses, costs, damages and expenses:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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">in such proportion as is appropriate to reflect the relative benefits received by the Company on the one
hand and the Agents on the other hand from the distribution of the Placement Shares; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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">if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion
as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company
on the one hand and the Agents on the other hand in connection with the matters or things referred to in Section 12 hereof which resulted
in such liabilities, claims, demands, losses, costs, damages or expenses, as well as any other relevant equitable considerations;</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: justify">provided that the Agents shall not in any event
be liable to contribute, in the aggregate, any amount in excess of the Placement Fee or any portion thereof actually received. The relative
benefits received by the Company on the one hand and the Agents on the other shall be deemed to be in the same ratio as the total Net
Proceeds from the distribution of Placement Shares received by the Company is to the Placement Fee received by the Agents. The relative
fault of the Company on the one hand and of the Agents on the other shall be determined by reference to, among other things, whether the
matters or things referred to in Section 12 hereof which resulted in such liabilities, claims, demands, losses, costs, damages and expenses
relate to information supplied by or steps or actions taken or done or not taken or done by or on behalf of the Company (including indirectly
as aforesaid) or to information supplied by or steps or actions taken or done or not taken or done by or on behalf of the Agents and the
relative intent, knowledge, access to information and opportunity to correct or prevent such statement, omission or misrepresentation,
or other matter or thing referred to in Section 12 hereof. The parties hereto agree that it would not be just and equitable if contribution
pursuant to this Section 12 were determined by any method of allocation which does not take into account the equitable considerations
referred to above in this Section 12.</P>

<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">Notwithstanding the provisions of this Section
12, no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the U.S. Securities Act) shall be entitled
to contribution from any person who was not guilty of such fraudulent misrepresentation.</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">(d)   If
any matter or thing contemplated by this Section 12 shall be asserted against any Indemnified Party, the Indemnified Party concerned shall
promptly notify the Company and the Agents of the nature of such claim (provided that any failure to so notify the Company promptly shall
relieve the Company of liability under this Section 12 only to the extent that such failure prejudices the Company&rsquo;s ability to
defend such claim), and the Company shall, subject as hereinafter provided, be entitled (but not required) to assume the defence of any
suit or proceeding (including any governmental or regulatory investigation or proceeding) brought to enforce such claim. Any such defence
shall be through legal counsel acceptable to the Indemnified Party (whose acceptance shall not be unreasonably withheld). An Indemnified
Party shall have the right to employ separate counsel in any such suit and participate in the defence thereof but the fees and expenses
of such counsel shall be at the expense of the Indemnified Party unless: (i) the Company fails to assume the defence of such suit on behalf
of the Indemnified Party within a reasonable period of time; or (ii) the employment of such counsel has been authorized in writing by
the Company; or (iii) the named parties to any such suit or proceeding include the Indemnified Party as well as the Company and the Indemnified
Party shall have received advice of counsel that there may be one or more legal defences available to the Indemnified Party which are
different from or in addition to those available to the Company (in which case, if such Indemnified Party notifies the Company in writing
that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defence of
such suit or proceeding on behalf of the Indemnified Party and shall be liable to pay the reasonable fees and expenses of counsel for
the Indemnified Party), it being understood, however, that the Company shall not, in connection with any one such action or separate but
substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable
for the fees and expenses of more than one separate law firm for all such Indemnified Parties (other than local counsel). The Company
shall not be liable for any settlement of any action or suit effected without its written consent (which consent will not be unreasonably
withheld or delayed). The Company shall not, without the prior written consent of each Indemnified Party, settle or compromise or consent
to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section
12 (whether or not any Indemnified Party is a party thereto), unless such settlement, compromise or consent (i) includes an unconditional
release of each Indemnified Party from all liability arising or that may arise out of such claim, action or proceeding and (ii) does not
include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any Indemnified Party. Notwithstanding
the foregoing, if at any time an Indemnified Party shall have requested the Company to reimburse the Indemnified Party for fees and expenses
of counsel, the Company agrees that it shall be liable for any settlement of the nature contemplated by Section 12 effected without its
written consent if (i) such settlement is entered into more than 45 days after receipt by the Company of the aforesaid request, (ii) the
Company shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (iii)
the Company shall not have reimbursed such Indemnified Party in accordance with such request prior to the date of such settlement. It
is the intention of the Company to constitute each of the Agents as trustees, for the Agents&rsquo; directors, officers, shareholders,
agents and employees, and each person who controls any Agent of the covenants of the Company under Sections 12 hereof with respect to
the Agents&rsquo; directors, officers, shareholders, agents and employees, and each person who controls any Agent, and the Agents agree
to accept such trust and to hold and enforce such covenants on behalf of such persons.</P>

<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: justify">The Company agrees that in case any legal proceedings
or investigation shall be brought against or initiated against the Company by any governmental commission, regulatory authority, exchange,
court or other authority and an Indemnified Person or other representative of any of the Agents shall be required to testify or respond
to procedures designed to discover information regarding, in connection with or relating to the performance of professional services rendered
to the Company by one or more of the Agents, the Company agrees to pay the Agents the reasonable costs (including an amount to reimburse
the Agents for the time spent by the personnel in connection therewith on a per diem basis and out-of-pocket expenses) in connection therewith.</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">(e)   The
rights provided in this Section 12 shall be in addition to and not in derogation of any other right which the Agents may have by statute
or otherwise at law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">13   </FONT><U>Representations
and Warranties to Survive Delivery</U></P>

<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">All representations and warranties of the Company
herein or in certificates delivered pursuant hereto shall remain operative and in full force and effect regardless of any investigation
made by or on behalf of the Agent, its affiliates, directors, officers, shareholders, agents and employees and any of their controlling
persons, and shall survive delivery and acceptance of the Placement Shares and payment therefor or any termination of this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">14   </FONT><U>Termination</U></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">(a)   The
Agents may terminate this Agreement, by notice to the Company, as hereinafter specified at any time (1) if there has been, since the time
of execution of this Agreement or since the date as of which information is given in the Prospectus, any change, or any development or
event involving a prospective change, in the condition, financial or otherwise, or in the business, properties, earnings, results of operations
or prospects of the Company and its Subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business,
which individually or in the aggregate, in the sole judgment of the Agents is material and adverse and makes it impractical or inadvisable
to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (2) if there has occurred any material adverse
change in the financial markets in Canada or the international financial markets, any outbreak of hostilities or escalation thereof or
other calamity or crisis or any change or development involving a prospective change in national or international political, financial
or economic conditions, in each case the effect of which is such as to make it, in the judgment of the Agents, impracticable or inadvisable
to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (3) if trading in the Shares has been suspended
or limited by the Canadian Qualifying Authorities or the Exchanges, or if trading generally on the Exchanges has been suspended or limited,
or minimum prices for trading have been fixed on the TSXV, (4) if any suspension of trading of any securities of the Company on any exchange
or in the over-the- counter market shall have occurred and be continuing, or (5) if a major disruption of securities settlements or clearance
services in Canada shall have occurred and be continuing. Any such termination shall be without liability of any party to any other party
except that the provisions of Sections 8(h) 12, 13, 14(e), 16, 19 and 20 hereof shall remain in full force and effect notwithstanding
such termination. If the Agents elect to terminate this Agreement as provided in this Section 14(a), the Agents shall provide the required
notice as specified in Section 15.</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"></P>

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<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">(b)   The
Company shall have the right to terminate this Agreement by giving five (5) days&rsquo; notice as hereinafter specified to terminate this
Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any
party to any other party except that the provisions of Sections 8(h), 12, 13, 14(e), 16, 19 and 20 hereof shall remain in full force and
effect notwithstanding such termination.</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">(c)   Each
Agent shall have the right to terminate its obligations under this Agreement (with respect to itself only) in its sole discretion by giving
five (5) days&rsquo; notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of
this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of Sections
8(h), 12, 13, 14(d), 16, 19 and 20 hereof shall remain in full force and effect notwithstanding such termination.</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">(d) This Agreement shall
remain in full force and effect until the earliest to occur of (i) termination pursuant to Sections 14(a), 14(b) or 14(c) or otherwise
by mutual agreement of the parties; (ii) such date that the aggregate gross sale proceeds of Placement Shares sold pursuant to this Agreement
equals US$70,000,000; or (iii) July 20, 2025; provided that any such termination shall in all cases be deemed to provide that Sections
8(h), 12, 13, 14(d), 16, 19 and 20 shall remain in full force and effect.</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">(e)   Any
termination of this Agreement shall be effective on the date specified in such notice of termination; provided that such termination shall
not be effective until the close of business on the date of receipt of such notice by the Agents or the Company, as the case may be. If
such termination shall occur prior to the Settlement Date for any sale of Placement Shares, such Placement Shares shall settle in accordance
with the provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">15   </FONT><U>Notices</U></P>

<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">All notices or other communications required or
permitted to be given by any party to any other party pursuant to the terms of this Agreement shall be in writing and if sent to the Agents,
shall be delivered to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Cantor Fitzgerald Canada Corporation<BR>
181 University Avenue, Suite 1500<BR>
Toronto, Ontario M5H 3M7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Elan Shevel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email: EShevel@cantor.com</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Cantor Fitzgerald &amp; Co.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">499 Park Ave.<BR>
New York, NY 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: (i) Capital Markets and (ii) General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email: (i) notices-IBD@cantor.com and (ii) legal-IBD@cantor.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">or if sent to the other Agents, shall be delivered to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Canaccord Genuity Corp.<BR>
40 Temperance Street, Suite 2100<BR>
Toronto, Ontario, M5H 0B4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: David Sadowski</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email: DSadowski@cgf.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Canaccord Genuity LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">99 High Street, Suite 1200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Boston, Massachusetts 02110</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: ECM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email: CGUSEcm@cgf.com</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">Haywood Securities Inc.<BR>
Suite 700 &ndash; 200 Burrard Street<BR>
Vancouver, British Columbia V6C 3L6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Attention: Kevin Campbell</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Email: kcampbell@haywood.com</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-indent: 0.5in">PI Financial Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">2500-733 Seymour Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Vancouver, British Columbia V6B 0S6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Attention: Russell Mills</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">Email: rmills@pifinancial.com</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-indent: 0.5in">Jett Capital Advisors, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">712 Fifth Avenue, 11th Floor<BR>
New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Joseph Riggio</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email: JR@jettcapital.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">with a copy (not to constitute notice) to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Bennett Jones <FONT STYLE="font-variant: small-caps">LLP</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">3400 One First Canadian
Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Toronto, Ontario
M5X 1A4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: James Clare<BR>
Email: clarej@bennettjones.com</P>


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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Sidley Austin <FONT STYLE="font-variant: small-caps">LLP</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">787 Seventh Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">New York, New York
10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Daniel O&rsquo;Shea<BR>
Email: doshea@sidley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">or if sent to the Company, shall be delivered to:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">101 N. Shoreline
Blvd, Suite 450</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Corpus Christi,
Texas 78401</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0.5in">Attention: Paul Goranson,
CEO and Director and Greg Zerzan, General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Email:
PGoranson@encoreuranium.com and gzerzan@encoreuranium.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">with a copy (not
to constitute notice) to:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">1200 - 750 West
Pender Street</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">V6C 2T8</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Attention: Edward
L. Mayerhofer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Email: elm@mortonlaw.ca</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">1400 Wewatta Street,
Suite 400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Denver, Colorado
80202</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Attention: Jason
K. Brenkert</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Email: brenkert.jason@dorsey.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each party to this Agreement may change such address
for notices by sending to the other parties to this Agreement written notice of a new address for such purpose. Each such notice or other
communication shall be deemed given (i) when delivered personally or by e-mail on or before 4:30 p.m. (Toronto time), on a Trading Day
or, if such day is not a Business Day, on the next succeeding Business Day, (ii) on the next Trading Day after timely delivery to a nationally-
recognized overnight courier, (iii) on the Trading Day actually received if deposited in the mail (certified or registered mail), and
(iv) if sent by email, on the Trading Day on which it was sent, or the next Trading Day if sent after 4:30 p.m. (Toronto time) or not
on a Trading Day.</P>

<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">An electronic communication (&ldquo;<B>Electronic
Notice</B>&rdquo;) shall be deemed written notice for purposes of this Section 15 if sent to the electronic mail address specified by
the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives
verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the
notice on paper, in a nonelectronic form (&ldquo;<B>Nonelectronic Notice</B>&rdquo;) which shall be sent to the requesting party within
ten (10) days of receipt of the written request for Nonelectronic Notice.</P>

<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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">16
</FONT><B><U>Consent to Jurisdiction</U></B></P>

<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">The Company irrevocably (i) agrees that any legal
suit, action or proceeding against the Company brought by the Agents or by any person who controls any Agent arising out of or based upon
this Agreement or the transactions contemplated thereby may be instituted in any court of the Province of British Columbia, (ii) waives,
to the fullest extent it may effectively do so, any objection which it may now or hereafter have to the laying of venue of any such proceeding
and (iii) submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. To the extent that the Company
has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service of notice,
attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, it hereby
irrevocably waives such immunity in respect of its obligations under the above referenced documents, to the extent permitted by law. The
provisions of this Section 16 shall survive any termination of this Agreement, in whole or in part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">17
</FONT><B><U>Successors and Assigns</U></B></P>

<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">This Agreement shall inure to the benefit of and
be binding upon the Company and its affiliates, directors, officers, shareholders, agents and employees and the controlling persons referred
to in Section 13 hereof. References to any of the parties contained in this Agreement shall be deemed to include the successors and permitted
assigns of such party. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto
or their respective successors and permitted assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement. No party may assign its rights or obligations under this Agreement without the prior written
consent of the other parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">18   </FONT><U>Adjustments
for Stock Splits</U></P>

<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">The parties acknowledge and agree that all share
related numbers contained in this Agreement shall be adjusted to take into account any stock split, stock dividend or similar event effected
with respect to the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">19   </FONT><U>Entire
Agreement; Amendment; Severability</U></P>

<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">This Agreement (including all schedules and exhibits
attached hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous
agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof. Neither this Agreement
nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Agent. In the event that any
one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable,
the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein
shall not be affected or impaired thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">20   </FONT><U>Applicable
Law</U></P>

<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">This Agreement and any claim, controversy or dispute
relative to or arising out of this Agreement shall be governed by and interpreted in accordance with the laws of the Province of British
Columbia and the federal laws of Canada applicable in the Province of British Columbia. Each of the parties hereto irrevocably attorns
to the jurisdiction of the courts of the Province of British Columbia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">21   </FONT><U>Waiver
of Jury Trial</U></P>

<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">The Company and the Agents hereby irrevocably
waive any right either may have to a trial by jury in respect of any claim based upon or arising out of this Agreement or any transaction
contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">22   </FONT><U>Absence
of Fiduciary Duties</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal">The
parties acknowledge that they are sophisticated in business and financial matters and that each of them is solely responsible for making
its own independent investigation and analysis of the transactions contemplated by this Agreement. They further acknowledge that the Agents
have not been engaged by the Company to provide, and have not provided, financial advisory services in connection with the terms of the
Offering nor has the Agents assumed at any time a fiduciary relationship to the Company in connection with such Offering. The Company
hereby waives, to the fullest extent permitted by law, any claims it may have against the Agents for breach of fiduciary duty or alleged
breach of fiduciary duty and agrees the Agents shall have no liability (whether direct or indirect) to the Company in respect of such
a fiduciary duty claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Company, including shareholders,
employees or creditors of Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">23   </FONT><U>Judgment
Currency</U></P>

<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">The Company agrees to indemnify each Agent, its
directors, officers, affiliates and each person, if any, who controls such Agent within the meaning of Section 15 of the U.S. Securities
Act or Section 20 of the Exchange Act, against any loss incurred by such Agent as a result of any judgment or order being given or made
for any amount due hereunder and such judgment or order being expressed and paid in a currency (the &ldquo;judgment currency&rdquo;) other
than U.S. dollars and as a result of any variation as between (i) the rate of exchange at which the U.S. dollar amount is converted into
the judgment currency for the purpose of such judgment or order, and (ii) the rate of exchange at which such indemnified person is able
to purchase U.S. dollars with the amount of the judgment currency actually received by the indemnified person. The foregoing indemnity
shall constitute a separate and independent obligation of the Company and shall continue in full force and effect notwithstanding any
such judgment or order as aforesaid. The term &ldquo;rate of exchange&rdquo; shall include any premiums and costs of exchange payable
in connection with the purchase of, or conversion into, the relevant currency.</P>

<P STYLE="font: bold 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">24 <B><U>Compliance with
USA Patriot Act</U></B> <FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<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">In accordance with the requirements of the USA
PATRIOT Act, the Agents are required to obtain, verify and record information that identifies their respective clients, including the
Company, which information may include the name and address of their respective clients, as well as other information that will allow
the Agents to properly identify their respective clients.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">25   </FONT><U>Definitions</U></P>

<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">As used in this Agreement, the following terms
have the respective meanings set forth below:</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">(a)   &ldquo;<B>affiliate</B>&rdquo;
has the meaning given to it in the <I>Business Corporation Act </I>(British Columbia);</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">(b)   &ldquo;<B>Agent</B>&rdquo;
and &ldquo;<B>Agents&rdquo;</B> each has the meaning given thereto in the first paragraph hereof;</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">(c)   &ldquo;<B>Agreement</B>&rdquo;
has the meaning given thereto in the first paragraph hereof;</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">(d)   &ldquo;<B>Alta
Mesa Uranium Projects</B>&rdquo; means Alta Mesa mineral project located in Brooks and Jim Hogg Counties, Texas, as described in the Alta
Mesa Technical Report;</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">(e)   &ldquo;<B>Alta
Mesa Technical Report</B>&rdquo; means the report titled &ldquo;Technical Report Summary for the Alta Mesa Uranium Project, Brooks and
Jim Hogg counties, Texas, USA&rdquo; with an effective date of January 19, 2023;</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">(f)   &ldquo;<B>Alternative
Currency</B>&rdquo; has the meaning given thereto in Section 5(a) hereof;</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">(g)   &ldquo;<B>Amendment
Date</B>&rdquo; has the meaning given thereto in Section 8(a) hereof;</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">(h)   &ldquo;<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; 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">(i)   &ldquo;<B>Applicable
Securities Laws</B>&rdquo; means the Canadian Securities Laws, the U.S. Securities Laws and the applicable securities laws of the other
Offering Jurisdictions in which the shares are sold on a private placement basis&#894;</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">(j)   &ldquo;<B>Applicable
Time</B>&rdquo; means (i) any Time of Sale and (ii) any Settlement Date;</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">(k)   &ldquo;<B>Authorized
Representative</B>&rdquo; has the meaning given thereto in Section 2(a) hereof;</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">(l)   &ldquo;<B>Base
Prospectuses</B>&rdquo; has the meaning given in Section 6 hereof;</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">(m)   &ldquo;<B>Business
Day</B>&rdquo; means a day other than a Saturday, Sunday or any other day on which the principal chartered banks located in the City of
Toronto, Ontario or Vancouver, British Columbia are not open for business&#894;</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">(n)   &ldquo;<B>Canadian
Agent&rdquo; </B>and &ldquo;<B>Canadian Agents&rdquo;</B> each has the meaning given thereto in Section 3 hereof;</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">(o)   &ldquo;<B>Canadian
Base Prospectus</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(p)   &ldquo;<B>Canadian
Marketplace&rdquo; </B>has the meaning given in Section 3 hereof;</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">(q)   &ldquo;<B>Canadian
Prospectus</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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"></P>

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<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">(r)   &ldquo;<B>Canadian
Prospectus Supplement</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(s)   &ldquo;<B>Canadian
Qualifying Authorities</B>&rdquo; means the securities regulatory authorities in each of the provinces and territories of Canada;</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">(t)   &ldquo;<B>Canadian
Qualifying Jurisdictions</B>&rdquo; means each of the provinces and territories of Canada;</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">(u)   &ldquo;<B>Canadian
Securities Laws</B>&rdquo; means the <I>Securities Act </I>(British Columbia), the equivalent legislation in each of the other Canadian
Qualifying Jurisdictions and applicable rules and regulations under such laws, together with applicable published national, multilateral
and local policy statements, instruments, notices and blanket orders of the Canadian Qualifying Authorities in each of the Canadian Qualifying
Jurisdictions<B>;</B></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">(v)   &ldquo;<B>CCPA</B>&rdquo;
has the meaning given thereto in Section 7(ppp) hereof;</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">(w)   &ldquo;<B>Code</B>&rdquo;
has the meaning given thereto in Section 7(bbb) hereof;</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">(x)   &ldquo;<B>Company</B>&rdquo;
has the meaning given thereto in the introductory paragraph hereof;</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">(y)   &ldquo;<B>Comfort
Letter</B>&rdquo; has the meaning given thereto in Section 8(q) hereof;</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">(z)   &ldquo;<B>Confidential
Data</B>&rdquo; has the meaning given thereto in Section 7(ppp) hereof;</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">(aa) &ldquo;<B>Corporate
Records</B>&rdquo; has the meaning given thereto in Section 7(s) thereof;</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">(bb) &ldquo;<B>Crownpoint
and Hosta Butte Uranium Project</B>&rdquo; means the Crownpoint and Hosta Butte mineral project located in McKinley County, New Mexico,
as described in the Crownpoint and Hosta Butte Technical Report&#894;</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">(cc) &ldquo;<B>Crownpoint
and Hosta Butte Technical Report</B>&rdquo; means the report titled &ldquo;Crownpoint and Hosta Butte Uranium Project McKinley County,
New Mexico, USA Mineral Resource Technical Report National Instrument 43-101 Updated&rdquo; with an effective date of February 25, 2022&#894;</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">(dd) &ldquo;<B>Designated
News Release</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(ee) &ldquo;<B>Dewey Burdock
Project</B>&rdquo; means the Dewey Burdock mineral project located in Custer and Fall River Counties, South Dakota, as described in the
Dewey Burdock Technical Report&#894;</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">(ff) &ldquo;<B>Dewey Burdock
Technical Report</B>&rdquo; means the report titled &ldquo;NI 43-101 Technical Report Preliminary Economic Assessment Dewey-Burdock Uranium
ISR Project South Dakota, USA&rdquo; with an effective date of December 3, 2019&#894;</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">(gg) &ldquo;<B>EDGAR</B>&rdquo;
means the Electronic Data Gathering Analysis and Retrieval System of the SEC;</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">(hh) &ldquo;<B>Electronic
Notice</B>&rdquo; has the meaning given thereto in Section 15 hereof;</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">(ii)   &ldquo;<B>Employee
Plans</B>&rdquo; has the meaning given thereto in Section 7(ww) hereof;</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"></P>

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<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">(jj) &ldquo;<B>Environmental
Laws</B>&rdquo; has the meaning given thereto in Section 7(eee) hereof;</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">(kk) &ldquo;<B>Environmental
Permits</B>&rdquo; has the meaning given thereto in Section 7(eee) hereof;</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">(ll) &ldquo;<B>Evaluation
Date</B>&rdquo; has the meaning given thereto in Section 7(u) hereof;</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">(mm) &ldquo;<B>Exchanges</B>&rdquo;
means, collectively, the TSXV and NYSE American;</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">(nn) &ldquo;<B>Exchange
Act</B>&rdquo; means the United States Securities Exchange Act of 1934, as amended (together with the rules and regulations promulgated
thereunder);</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">(oo)   &ldquo;<B>Financial
Statements</B>&rdquo; has the meaning given thereto in Section 7(o) hereof;</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">(pp) &ldquo;<B>FINRA</B>&rdquo;
means the Financial Industry Regulatory Authority, Inc.;</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">(qq) &ldquo;<B>Gas Hills
Project</B>&rdquo; means the Gas Hills mineral project located in Fremont and Natrona Counties, Wyoming, as described in the Gas Hills
Technical Report&#894;</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">(rr) &ldquo;<B>Gas Hills
Technical Report</B>&rdquo; means the report titled &ldquo;NI 43-101 Technical Report Preliminary Economic Assessment Gas Hills Uranium
Project Fremont and Natrona Counties, Wyoming, USA&rdquo; with an effective date of June 28, 2021&#894;</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">(ss) &ldquo;<B>GDPR</B>&rdquo;
has the meaning given thereto in Section 7(qqq) hereof;</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">(tt) &ldquo;<B>Governmental
Authority</B>&rdquo; means any provincial, territorial or federal, and as applicable in the circumstances, any foreign: (a) government&#894;
(b) court, arbitral or other tribunal or governmental or quasi-governmental authority of any nature (including any governmental agency,
political subdivision, instrumentality, branch, department, official, or entity)&#894; (c) body or other instrumentality exercising, or
entitled to exercise, any administrative, executive, judicial, legislative, police, regulatory, or taxing authority or power of any nature
pertaining to government, authority and includes any national or federal government, province, state, municipality or other political
subdivision of any of the foregoing, any securities regulatory authority, any entity exercising executive, legislative, judicial, regulatory
or administrative functions of or pertaining to government&#894; or (d) any other body or entity created under the authority of or otherwise
subject to the jurisdiction of any of the foregoing and any stock exchange or self-regulatory authority and, for greater certainty, includes
the Securities Regulators, the TSXV and NYSE American, the Investment Industry Regulatory Organization of Canada, and FINRA&#894;</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">(uu) &ldquo;<B>Hazardous
Substances</B>&rdquo; has the meaning given thereto in Section 7(eee) hereof;</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">(vv) &ldquo;<B>HIPAA</B>&rdquo;
has the meaning given thereto in Section 7(ppp) hereof;</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">(ww) &ldquo;<B>IFRS</B>&rdquo;
has the meaning given thereto in Section 7(o) hereof.</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">(xx)   &ldquo;<B>Incorporated
Document</B>&rdquo; and &ldquo;<B>Incorporated Documents</B>&rdquo; each has the meaning given thereto in Section 7(e) hereof;</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">(yy) &ldquo;<B>Indemnified
Party</B>&rdquo; and &ldquo;<B>Indemnified Parties</B>&rdquo; each has the meaning given thereto in Section 12 hereof;</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">(zz) &ldquo;<B>Initial
Comfort Letter</B>&rdquo; has the meaning given thereto in Section 8(q) hereof;</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"></P>

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<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">(aaa) &ldquo;<B>Intellectual
Property</B>&rdquo; has the meaning given thereto in Section 7(kk) hereof;</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">(bbb) &ldquo;<B>Issuer
Free Writing Prospectus</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(ccc) &ldquo;<B>IT Systems</B>&rdquo;
has the meaning given thereto in Section 7(ppp) hereof;</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">(ddd) &ldquo;<B>Joint Venture
Entities&rdquo; </B>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, provided that any representation or warranty of this Company
in this Agreement relating to Joint Venture Entities other than the Company 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; 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">(eee) &ldquo;<B>Kingsville
Dome Project</B>&rdquo; means the Kingsville Dome property located in Kleberg County, Texas, comprised of numerous mineral leases from
private landowners, covering an area of approximately 2,434 gross and 2,227 net acres of minerals rights, all of which are held by URI,
Inc., a wholly-owned subsidiary of the Company&#894;</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">(fff) &ldquo;<B>Lead Agent</B>&rdquo;
has the meaning given thereto in paragraph 1 hereof<B>; </B></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">(ggg) &ldquo;<B>Losses</B>&rdquo;
has the meaning given thereto in Section 12 hereof;</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">(hhh) &ldquo;<B>Marquez-Juan
Tafoya Uranium Project</B>&rdquo; means the Marquez-Juan Tafoya mineral project located in Grants Uranium Mineral District, New Mexico,
as described in the Marquez-Juan Tafoya Technical Report&#894;</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">(iii)   &ldquo;<B>Marquez-Juan
Tafoya Technical Report</B>&rdquo; means the technical report titled &ldquo;Marquez-Juan Tafoya Uranium Project 43-101 Technical Report
Preliminary Economic Assessment&rdquo; with an effective date of June 9, 2021&#894;</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">(jjj) &ldquo;<B>Material
Adverse Effect</B>&rdquo; means any event, fact, circumstance, development, occurrence or state of affairs (i) 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 Subsidiaries or Joint Venture Entities, taken
as a whole, whether or not arising in the ordinary course of business or (ii) that would result in any of the Prospectuses containing
a misrepresentation;</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">(kkk) &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);</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">(lll) &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; 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"></P>

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<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">(mmm) &ldquo;<B>Material
Properties</B>&rdquo; means, collectively, the Alta Mesa Uranium Project, the Marquez-Juan Tafoya Uranium Project, the Crownpoint and
Hosta Butte Uranium Project, the Dewey Burdock Project, the Gas Hills Project, and the Rosita Project;</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">(nnn) &ldquo;<B>Material
Subsidiary</B>&rdquo; and &ldquo;<B>Material Subsidiaries</B>&rdquo; each has the meaning given thereto in Section 7(r) hereof;</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">(ooo)   &ldquo;<B>Member</B>&rdquo;
has the meaning given thereto in Section 7(lll) hereof;</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">(ppp) &ldquo;<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) an untrue statement of a material fact, or (ii) 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; 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">(qqq) &ldquo;<B>Money Laundering
Laws</B>&rdquo; has the meaning given in Section 7(jjj);</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">(rrr) &ldquo;<B>Net Proceeds</B>&rdquo;
has the meaning given thereto in Section 5(a) hereof;</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">(sss) &ldquo;<B>NI 21-101</B>&rdquo;
means National Instrument 21-101 - <I>Market Operations</I>;</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">(ttt) &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; 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">(uuu) &ldquo;<B>NI 44-101</B>&rdquo;
means National Instrument 44-101 - <I>Short Form Prospectus Distributions;</I></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">(vvv) &ldquo;<B>NI 44-102</B>&rdquo;
means National Instrument 44-102 - <I>Shelf Distributions</I>;</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">(www) &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; 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">(xxx)   &ldquo;<B>Nonelectronic
Notice</B>&rdquo; has the meaning given thereto in Section 15 hereof;</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">(yyy) &ldquo;<B>NYSE American</B>&rdquo;
means the NYSE American LLC;</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">(zzz) &ldquo;<B>Offering</B>&rdquo;
has the meaning given thereto in Section 1 hereof;</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">(aaaa) &ldquo;<B>Offering
Jurisdictions</B>&rdquo; means the United States and the Canadian Qualifying Jurisdictions;</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">(bbbb) &ldquo;<B>Original
Currency</B>&rdquo; has the meaning given thereto in Section 5(a) hereof;</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">(cccc) <B>&ldquo;Paying
Agent</B>&rdquo; has the meaning given thereto in Section 2(c) hereof;</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">(dddd) &ldquo;<B>Permits</B>&rdquo;
has the meaning given thereto in Section 7(ss) hereof;</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">(eeee) &ldquo;<B>Person</B>&rdquo;
has the meaning given thereto in Section 7(bb) hereof;</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"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<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">(ffff) &ldquo;<B>Placement</B>&rdquo;
has the meaning given thereto in Section 2(a) hereof;</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">(gggg) &ldquo;<B>Placement
Fee</B>&rdquo; has the meaning given thereto in Section 2(a) hereof;</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">(hhhh) &ldquo;<B>Placement
Notice</B>&rdquo; has the meaning given thereto in Section 2(b) hereof;</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">(iiii) &ldquo;<B>Placement
Shares&rdquo; </B>has the meaning given thereto in Section 2(a) hereof;</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">(jjjj) &ldquo;<B>Policies</B>&rdquo;
has the meaning given thereto in Section 7(qqq) hereof;</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">(kkkk) &ldquo;<B>Privacy
Laws</B>&rdquo; has the meaning given thereto in Section 7(qqq) hereof;</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">(llll) &ldquo;<B>Prospectuses</B>&rdquo;
has the meaning given thereto in Section 6 hereof;</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">(mmmm) &ldquo;<B>Prospectus
Supplements</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(nnnn) &ldquo;<B>Receipt</B>&rdquo;
has the meaning given thereto in Section 6 hereof;</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">(oooo)   &ldquo;<B>Registration
Statement</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(pppp) &ldquo;<B>Regulation
M</B>&rdquo; has the meaning given thereto in Section 7(ccc) hereof;</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">(qqqq) &ldquo;<B>Representation
Date</B>&rdquo; has the meaning given thereto in Section 8(n) hereof;</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">(rrrr) &ldquo;<B>Reports</B>&rdquo;
has the meaning given thereto in Section 7(tt) hereof;</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">(ssss) &ldquo;<B>Reviewing
Authority</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(tttt) &ldquo;<B>Rosita
Project</B>&rdquo; means the uranium processing plant and associated well fields located in Duval County, Texas, as further described
in the Offering Documents&#894;</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">(uuuu) &ldquo;<B>Rule 433</B>&rdquo;
means Rule 433 under the U.S. Securities Act;</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">(vvvv) &ldquo;<B>Rules
and Regulations</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(wwww) &ldquo;<B>Sanctions</B>&rdquo;
has the meaning given thereto in Section 7(lll) hereof;</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">(xxxx) &ldquo;<B>Sales
Agreement</B>&rdquo; means the Agreement as defined in the introductory paragraph.</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">(yyyy) &ldquo;<B>SEC</B>&rdquo;
has the meaning given thereto in Section 1 hereof;</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">(zzzz) &ldquo;<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; 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">(aaaaa) &ldquo;<B>Settlement
Date</B>&rdquo; has the meaning given thereto in Section 5(a) hereof;</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">(bbbbb) &ldquo;<B>Shares</B>&rdquo;
has the meaning given thereto in the Section 1 hereof;</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">(ccccc) &ldquo;<B>Shelf
Procedures</B>&rdquo; has the meaning given in NI 44-102;</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">(ddddd) &ldquo;<B>Shelf
Securities</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">(eeeee) &ldquo;<B>Subsidiary</B>&rdquo;
and &ldquo;<B>Subsidiaries</B>&rdquo; each has the meaning given thereto in Section 7(r) hereof;</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">(fffff) &ldquo;<B>Time
of Sale</B>&rdquo; means the time of the applicable Agent&rsquo;s initial entry into contracts with investors for the sale of Placement
Shares;</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">(ggggg) &ldquo;<B>Time
of Sale Prospectus</B>&rdquo; has the meaning given thereto in Section 7(c);</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">(hhhhh) &ldquo;<B>Trading
Day</B>&rdquo; means any day on which each of the Exchanges is open for trading;</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">(iiiii)  &ldquo;<B>True
Up Payment</B>&rdquo; has the meaning given thereto in Section 2(c);</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">(jjjjj) &ldquo;<B>TSXV</B>&rdquo;
means the TSX Venture Exchange;</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">(kkkkk)  &ldquo;<B>United
States Marketplace</B>&rdquo; has the meaning given thereto in Section 3 hereof;</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">(lllll) &ldquo;<B>U.S. Agent</B>&rdquo;
and &ldquo;<B>U.S. Agents</B>&rdquo; each has the meaning given thereto in Section 3 hereof;</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">(mmmmm) &ldquo;<B>U.S.
Base Prospectus</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(nnnnn) &ldquo;<B>U.S.
Prospectus</B>&rdquo; has the meaning given thereto in Section 6 hereof;</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">(ooooo)   &ldquo;<B>U.S.
Prospectus Supplement</B>&rdquo; has the meaning given thereto in Section 6 hereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; 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">(ppppp) &ldquo;<B>U.S.
Securities Act</B>&rdquo; means the United States Securities Act of 1933, as amended; and</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">(qqqqq) &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, 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"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">26   </FONT><U>Recognition
of the U.S. Special Resolution Regimes.</U></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">(a)   In
the event that any Agent that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer
from such Agent of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as
the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were
governed by the laws of the United States or a state of the United States.</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">(b)   In
the event that any Agent that is a Covered Entity or a BHC Act Affiliate of such Agent becomes subject to a proceeding under a U.S. Special
Resolution Regime, Default Rights under this Agreement that may be exercised against such Agent are permitted to be exercised to no greater
extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement was governed by the laws
of the United States or a state of the United States.</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"></P>

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<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">(c)   As
used in this Section 26:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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">&ldquo;<B>BHC Act Affiliate</B>&rdquo; has the meaning assigned to the term &ldquo;affiliate&rdquo; in,
and shall be interpreted in accordance with, 12 U.S.C. &sect; 1841(k).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&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">&ldquo;<B>Covered Entity</B>&rdquo; means any of the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">&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">(A)</TD><TD STYLE="text-align: justify">a &ldquo;covered entity&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
&sect; 252.82(b);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">&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">(B)</TD><TD STYLE="text-align: justify">a &ldquo;covered bank&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
&sect; 47.3(b); or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">&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">(C)</TD><TD STYLE="text-align: justify">a &ldquo;covered FSI&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
&sect; 382.2(b).</TD></TR></TABLE>

<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">(d)   &ldquo;<B>Default
Right</B>&rdquo; has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. &sect;&sect; 252.81,
47.2 or 382.1, as applicable.</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">(e)   &ldquo;<B>U.S.
Special Resolution Regime</B>&rdquo; means each of i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and
ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-decoration: none; font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: uppercase">27   </FONT><U>Counterparts</U></P>

<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">This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery
of an executed Agreement by one party to the other may be made by email transmission. Delivery of an executed Agreement by one party to
the other may be made by facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000,
Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other
transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective
for all purposes.</P>

<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">[<I>Remainder of page left intentionally blank</I>.]</P>

<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: 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: justify">If the foregoing accurately reflects your understanding
and agreement with respect to the matters described herein please indicate your agreement by countersigning this Agreement in the space
provided below.</P>

<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">Yours very truly,</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">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ENCORE ENERGY 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><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">/s/ Paul Goranson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul Goranson</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">President and Chief Executive Officer</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="margin: 0pt">&nbsp;</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"><B>ACCEPTED </B>as of the date first-above written.</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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CANTOR FITZGERALD CANADA CORPORATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Elan Shevel</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elan Shevel</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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">Chief Compliance Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CANTOR FITZGERALD &amp; CO.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Sage Kelly</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sage Kelly</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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">Global Head of Investment Banking</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CANACCORD GENUITY LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Jennifer Pardi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jennifer Pardi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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">Managing Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CANACCORD GENUITY CORP.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    David Sadowski</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Sadowski</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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">Managing Director, Investment Banking</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PI FINANCIAL CORP. </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Russell Mills</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Russell Mills</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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">Managing Director, Investment Banking</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>JETT CAPITAL ADVISORS, LLC </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joseph Riggio</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph Riggio</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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">Partner</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>HAYWOOD
                    SECURITIES INC.</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Kevin Campbell</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin Campbell</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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">Managing Director, Investment Banking</FONT></TD></TR>
  </TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &ldquo;A&rdquo;</P>

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

<DIV STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding: 12pt 0in">

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM OF PLACEMENT NOTICE</P>

</DIV>

<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">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">From:</TD>
    <TD STYLE="width: 92%">ENCORE ENERGY CORP.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>To:</TD>
    <TD>&#9679; (the &ldquo;<B>Lead Agent</B>&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Attention:</TD>
    <TD>&#9679;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Subject:</TD>
    <TD>Placement Notice</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Date:</TD>
    <TD>[&#9679;], 20[&#9679;]</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">Ladies and Gentlemen:</P>

<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">Pursuant to the terms and subject to the conditions
contained in the Sales Agreement among EnCore Energy Corp., a company organized under the laws of British Columbia (the &ldquo;<B>Company</B>&rdquo;),
and Cantor Fitzgerald Canada Corporation, Cantor Fitzgerald &amp; Co., Canaccord Genuity Corp., Canaccord Genuity LLC, Haywood Securities
Inc., PI Financial Corp. and Jett Capital Advisors, LLC, dated [DATE], the Company hereby requests that [Cantor Fitzgerald Canada Corporation]
[Cantor Fitzgerald &amp; Co.] sell up to [&#9679;] of the Company&rsquo;s common shares (the &ldquo;<B>Shares</B>&rdquo;), at a minimum
market price of $[&#9679;] per common share, during the time period beginning <B>[month, day, time] </B>and ending <B>[month, day, time]</B>.</P>

<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">[The Company requests that the Shares be sold
in the Canadian Marketplace or the United States Marketplace pursuant to the following amounts and special instructions:</P>

<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">Canadian Marketplace: [&#9679;] Shares</P>

<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">Special Instructions for the Canadian Marketplace:
[<B>Special selling instructions only for the Canadian Marketplace]</B></P>

<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">United States Marketplace: [&#9679;] Shares</P>

<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">Special Instructions for the United States Marketplace:
[<B>Special selling instructions only for the United States Marketplace]</B></P>

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




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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE AUTHORIZED REPRESENTATIVES OF THE COMPANY
ARE AS FOLLOWS:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name and Office / Title</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>E-mail Address</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William Sheriff, Executive Chairman</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">wms@encoreuranium.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul Goranson, Director and Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pgoranson@encoreuranium.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gregory Zerzan, Chief Administrative Officer and General Counsel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gzerzan@encoreuranium.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Authorized Representatives of the Lead Agents are as follows:</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">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 49%; font-size: 10pt"><B>Name and Office / Title</B></TD>
    <TD STYLE="text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 49%; font-size: 10pt"><B>E-mail Address</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; font-size: 10pt">Cantor Fitzgerald Canada Corporation</TD>
    <TD></TD>
    <TD STYLE="padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">Elan Shevel: EShevel@cantor.com</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">William Cavanaugh: WCavanaugh@cantor.com</P>
</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Kenneth Sheldon: Kenneth.Sheldon@cantor.com</P>
</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cantor Fitzgerald &amp; Co.</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">Sameer Vasudev: SVasudev@cantor.com</P></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>

<!-- Field: Page; Sequence: 54 -->
    <DIV STYLE="border-bottom: Black 1.5pt solid; margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &ldquo;C&rdquo;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(i) MATERIAL SUBSIDIARIES</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">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 68%; font-size: 10pt; text-align: left"><B>Name</B></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 15%; font-size: 10pt; text-align: center"><B>Jurisdiction of Incorporation&#8239;</B></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 15%; font-size: 10pt; text-align: center"><B>Ownership</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">enCore Energy US Corp.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">Nevada</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">enCore Alta Mesa LLC</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">Texas</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Tigris Uranium US Corp.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">Nevada</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Neutron Energy, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">Nevada</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">URI, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">Delaware</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Azarga Uranium Corp.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">British Columbia</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Powertech (USA) Inc.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">South Dakota</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">URZ Energy Corp.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">British Columbia</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Ucolo Exploration Corp.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">Utah</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Leoncito Plant, LLC</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">Texas</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">Leoncito Project, LLC</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">Texas</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">100%</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 0pt 6pt; text-align: center"><B>(ii) SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 29%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt"><B>Name of Subsidiary</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 22%"><FONT STYLE="font-size: 10pt"><B>Jurisdiction of Incorporation</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 45%"><FONT STYLE="font-size: 10pt"><B>Percentage of Voting Shares beneficially owned directly or indirectly by enCore</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Azarga Uranium Corp.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">British Columbia</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% directly</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Powertech (USA) Inc.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">South Dakota</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through Azarga Uranium Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">URZ Energy Corp.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">British Columbia</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through Azarga Uranium Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Ucolo Exploration Corp.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Utah</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through URZ Energy Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Azarga Resources Limited</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">British Virgin Islands</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through Azarga Uranium Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Azarga Resources (Hong Kong) Limited.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Hong Kong</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through Azarga Resources Limited</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Azarga Resources Canada Ltd.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">British Columbia</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through Azarga Resources (Hong Kong) Limited</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Azarga Resources USA Company</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Colorado</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through Azarga Resources Canada Ltd.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">enCore Energy US Corp.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Nevada</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% directly</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">HRI-Churchrock, Inc.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Metamin Enterprises US Inc.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Nevada</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Neutron Energy, Inc.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Nevada</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Tigris Uranium US Corp.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Nevada</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Uranco, Inc.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 8pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Uranium Resources, Inc.</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">URI, Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 9pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -9pt">enCore Alta Mesa LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -9pt">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Texas</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -9pt">Leoncito Plant, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -9pt">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Texas</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-left: 9pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -9pt">Leoncito Project, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -9pt">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Texas</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Leoncito Restoration LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Texas</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">100% indirectly through enCore Energy US Corp.</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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &ldquo;D&rdquo;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OFFICER&rsquo;S CERTIFICATE</P>

<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">I, <B>[name of executive officer]</B>, the <B>[title
of executive officer] </B>of EnCore Energy Corp. (the &ldquo;<B>Company</B>&rdquo;), a company existing under the <I>Business Corporations
Act </I>(British Columbia), do hereby certify in such capacity and not in my personal capacity, on behalf of the Company pursuant to Section
8(n) of the Sales Agreement, dated as of June 26, 2023 (the &ldquo;<B>Sales Agreement</B>&rdquo;), between the Company and Cantor
Fitzgerald Canada Corporation, Cantor Fitzgerald &amp; Co., Canaccord Genuity Corp., Canaccord Genuity LLC, Haywood Securities Inc., PI
Financial Corp. and Jett Capital Advisors, LLC, and without personal liability, that, to the best of my knowledge:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&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">except as set forth in the Prospectuses, the representations and warranties of the Company in Section
7 of the Sales Agreement are true and correct on and as of the date hereof with the same force and effect as if expressly made on and
as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and
correct as of such date; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&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">(ii)</TD><TD STYLE="text-align: justify">the Company has complied with all agreements and satisfied all conditions on its part to be performed
or satisfied pursuant to the Sales Agreement at or prior to the date hereof.</TD></TR></TABLE>

<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">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt">Date:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 60%; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

<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">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>ENCORE ENERGY CORP.</B></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>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U> </U></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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &ldquo;E&rdquo;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MATTERS TO BE COVERED IN THE COMPANY&rsquo;S
CANADIAN COUNSEL OPINION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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 Canadian Qualifying
Jurisdictions and it is not listed as in default of any requirement of the Applicable Securities Laws in any of the Canadian Qualifying
Jurisdictions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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>(British Columbia);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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">each of the Subsidiaries is incorporated and validly existing under its respective jurisdiction of incorporation,
and each is in good standing and has the corporate power to conducts its business as described in the Canadian Prospectus;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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 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 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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 Company has all necessary corporate power and capacity to issue and sell the Placement Shares;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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 authorized and issued capital of the Company and the Subsidiaries;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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">the attributes attaching to the Placement Shares are consistent and conform with the descriptions thereof
in the Canadian Prospectus;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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 Placement Shares have been duly allotted and validly issued as fully-paid and non- assessable 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 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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">the form and terms of the definitive certificate representing the Shares have been approved by the directors
of the Company and comply in all material respects with the <I>Business Corporations Act (British Columbia)</I>, the articles of the Company
and the rules, policies and by-laws of the TSXV;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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">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 Canadian
Qualifying Authorities;</TD></TR></TABLE>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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">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 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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">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 Placement 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 British Columbia or federal laws applicable therein;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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">Computershare Investor Services Inc. is the duly appointed registrar and transfer agent for the Shares
of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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 to the filings by the Company after the date hereof as required under applicable securities laws,
the exemptions and any undertaking to a securities regulatory authority, all necessary documents have been filed, all requisite proceedings
have been taken and all approvals, permits, consents and other legal requirements of the appropriate regulatory authority in each Canadian
Qualifying Jurisdiction have been obtained to qualify the distribution of the Placement Shares in each of the Canadian 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 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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">(p)</TD><TD STYLE="text-align: justify">subject only to the Standard Listing Conditions, the Placement Shares have been conditionally listed or
approved for listing on the TSXV; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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">(q)</TD><TD STYLE="text-align: justify">as to the accuracy and completeness of the statements under the headings &ldquo;Eligibility For Investment&rdquo;
and &ldquo;Certain Canadian Federal Income Tax Considerations&rdquo; in the Canadian Prospectus Supplement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">In giving the opinions described above,
such counsel may state that the opinions above are limited to the laws of the Provinces of [Alberta, British Columbia, Ontario and Quebec]
and the federal laws of Canada therein, except to the extent such opinions are made in reliance on the opinion of local counsel in other
jurisdictions and as to matters of fact, to the extent they deem proper, on certificates of responsible officers of the Company and public
officials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify">&nbsp;</P>




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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE &ldquo;F&rdquo;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM OF OPINION TO BE PROVIDED BY COMPANY&rsquo;S
U.S. COUNSEL</P>

<P STYLE="font: bold 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: justify">Capitalized terms used and not defined herein
shall have the meanings ascribed to them in the Sales Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">The Registration Statement filed with SEC (No. 333-272609)
which registers the sale of the Placement Shares has become effective under the Securities Act of 1933, as amended (the &ldquo;Securities
Act&rdquo;), and to our knowledge, no stop order suspending the effectiveness of the Registration Statement under the Securities Act
has been issued and no proceedings for that purpose have been instituted or threatened. Any required filing of the U.S. Prospectus has
been made in the manner and within the time required by General Instruction II.L of Form F-10. The Form F-X was filed with the SEC prior
to the effectiveness of the Registration Statement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">The Registration Statement, at the time it became effective,
and the U.S. Prospectus, as of the date of its filing with the Commission and as of the date hereof (except for (i) the financial statements
and related schedules, including the notes and schedules thereto and the auditor&rsquo;s report thereon and any other financial, statistical,
or accounting data (including XBRL data), included or incorporated by reference in, or excluded from, the Registration Statement or the
U.S. Prospectus, and (ii) mineral resource, mineral reserve and other geological information included or incorporated by reference in,
or excluded from, the Registration Statement or the U.S. Prospectus, as to which we express no opinion) and the Form F-X, as of the date
of its filing with the Commission, appear on their face to be appropriately responsive in all material respects to the applicable requirements
of the Securities Act and the rules and regulations promulgated thereunder.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">No consent, approval, authorization or order of, or filing,
registration or qualification with, any Governmental Authority, which has not been obtained, taken or made, is required by the Company
under any Applicable Law for the execution and delivery by the Company of the Sales Agreement and the performance by the Company of its
obligations thereunder. As used in this paragraph, &ldquo;Applicable Law&rdquo; means those laws, rules and regulations of the United
States of America, which in our experience are normally applicable to the transactions of the type contemplated by the Sales Agreement,
provided that such term does not include any other state, municipal or other local laws, rules or regulations, or any antifraud, environmental,
labor, tax, insurance, antitrust or state securities or blue sky laws, rules or regulations, or any law, rule or regulation that is applicable
to the Company, the Shares, the Sales Agreement or the transactions contemplated thereby solely because such law, rule or regulation
is part of a regulatory regime applicable to any party to the Sales Agreement or any of its affiliates due to the specific assets or
business of such party or such affiliate. As used in this paragraph, the term &ldquo;Governmental Authority&rdquo; means any executive,
legislative, judicial, administrative or regulatory body of the United States of America.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">Neither the issue and sale of the Shares, nor the consummation
of any other of the transactions contemplated by the Sales Agreement nor the fulfillment of the terms of the Sales Agreement will conflict
with, result in a breach or violation of, or imposition of any lien, charge or encumbrance upon any property or assets of the Company
pursuant to any Applicable Law, or any judgment, order or decree applicable to the Company of any Governmental Authority.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">The Company is not, and after giving effect to the offering
and sale of the Placement Shares and the application of the proceeds thereof as described in the Prospectus will not be, required to
register as an Investment Company within the meaning of the Investment Company Act of 1940, as amended.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">6.</TD><TD STYLE="text-align: justify">The statements under the heading &ldquo;Certain United States
Federal Income Tax Considerations&rdquo; in the Prospectus, to the extent that they constitute summaries of United States federal law
or regulation or legal conclusions, have been reviewed by us and fairly summarize the matters described under that heading in all material
respects, subject to the qualifications contained therein.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">7.</TD><TD STYLE="text-align: justify">To our knowledge, except as set forth in the Registration
Statement and the Prospectus, no holders of securities of the Company have rights to require the registration under the Securities Act
of resales of such securities under any Material Agreement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">8.</TD><TD STYLE="text-align: justify">The opinion of counsel will be accompanied by a standard
Rule 10b-5 negative assurance letter, including the following:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.5in">Based on our participation, review and reliance
as described above, we advise you that no facts came to our attention that caused us to believe that:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the Registration Statement, as of its most recent effective
date, (together with the Incorporated Documents at that 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 not misleading; or</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the U.S. Prospectus, as of its date or as of the date hereof
(together with the Incorporated Documents at those dates), contained or contains an untrue statement of a material fact or omitted or
omits 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;</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">it being understood that we express no belief
with respect to (i) the financial statements, financial statement schedules and other financial information included or incorporated by
reference therein or omitted therefrom, as to which we express no opinion and (ii) the information derived from the reports of or attributed
to persons named in the U.S. Prospectus under the heading &ldquo;Interest of Experts&rdquo;, included or incorporated by reference therein.</P>

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

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

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

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

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