VANCOUVER, British Columbia, Nov. 25, 2022 (GLOBE NEWSWIRE) -- Optimum Ventures Ltd. (“Optimum” or the “Company”) (TSXV:OPV), is pleased to announce that the Company has entered into a share exchange agreement dated November 24, 2022 (the “Agreement”) with all of the shareholders of 1309762 B.C. Ltd. (the “Vendor”), a privately held corporation incorporated under the laws of British Columbia, pursuant to which the Company has agreed to acquire all of the issued and outstanding common shares from the shareholders of Vendor in exchange for 3,000,000 common shares of the Company (“Optimum Shares”) subject to the terms and conditions set out in the Agreement (the “Transaction”) and the approval of the TSX Venture Exchange (the “TSXV”).

The Vendor owns 19 contiguous mining claims forming the Salmon Property covering approximately 208 hectares in the Hyder Mining District situated in southeastern Alaska, along the panhandle, immediately east of the Salmon River. The property is well located near infrastructures such as an all-weather road, a town, and a power-line as well as docks at tidewater. As at May 31, 2022 the Vendor had cash of $319,000.