The existing Mineral Resources are primarily situated on private land. Barrick operated Mercur until 1998 when it was closed due to low gold prices. Since closure, Barrick has substantially completed reclamation of the Mercur site. In August 2020, Ensign executed an assignment agreement with Rush Valley Exploration for 3,579 net hectares primarily in the West Mercur area, which was followed by, also in August 2020, a merger agreement with Priority Minerals securing an additional 213 net hectares in the South Mercur area. On May 13, 2021, Ensign entered into an option agreement (subsequently amended on June 13, 2022, May 15, 2023, and April 1, 2024) with Barrick (the "Barrick Agreement") to acquire Barrick's interests in the Mercur area (the "Mercur Option").