The $2 Million would IMprove Balance Sheet A LotAn agreement to issue Victory Nickel CAD$2,000,000 Silver Elephant commons shares, upon the price of nickel exceeding US$10.00 per pound for 30 consecutive business days on or before December 31, 2023; and, • A right of first refusal, exercisable by Victory Nickel until December 31, 2023, with respect to the exploration of sandstone (non-nickel bearing sulphides) resources at Minago.