Lysfjord is 54 sq. km. in size and is situated in the in the region of Nordland, northern Norway. Lysfjord is 1 out of 7 projects which Teako and TCC will develop together. The Coring Company AS to will incur C$3,000,000 in work commitments on the projects over 2.5 years. Pursuant to the Agreement, November 2024, Teako will act as operator of the projects, and is further entitled to an aggregate C$450,000 in management fees over 2.5 years. Additionally, Teako has retained a 50% beneficial interest in the proceeds of disposition of the Projects received by TCC upon any sale of any or all of the Projects.