Grid will maintain its 100% interest and exploration programme at Mayville CuNi Property located 30km to the north of Makwa. The agreement grants Teck a two-stage option to acquire up to a 70% interest in Makwa by funding cumulative expenditures of C$15.7M and making staged cash payments of C$1.6M to Grid (of which C$1M can be completed through a subscription of shares at Teck's election). Teck's minimum commitment under the agreement is the initial C$400,000 cash payment. Following completion of additional geophysical surveying, Teck would be committed to funding C$450,000 of minimum expenditures. The agreement is subject to TSXV approval.