Brascan Gold Inc. entered into an option agreement to acquire a 100% interest in the Brasil-Li Property with BHBC EXPLORAÇÃO MINERAL LTDA. and RTB GEOLOGIA E MINERAÇÃO LTDA, both limited companies incorporated and existing under the laws of Brazil (together the Optionor). The Brasil-Li Lithium Property (the Property), is a 2,956.15 hectare mineral claim package comprising 1.5 contiguous claim blocks in Brazil's Minas Gerais State, a mining-friendly jurisdiction located approximately 45 kms from Sigma Lithium's Grota do Cirilo property, the largest lithium hard rock deposit in the Americas.

Sigma Lithium is located in an emerging world class hard rock Lithium District in the State of Minas Gerais, Brazil. Lithium Ionic, CBL and Latin Resources are very active in exploration and discovery of new lithium deposits. Latin Resources (AUD 275 million mkt), Sigma Lithium (CAD 4.1 billion mkt) and Lithium Ionic (CAD 288 million mkt) indicate the potential valuations possible for the Brasil-Li property upon exploration, discovery and development of a new lithium resource in the district.

Claims map of the Brasil-Li Lithium Property in relation to CBL and SIGMA. Salinas Formation in blue, intruding granitoids in various shades of pink to red (After CPRM Geology Map, 2016). Brascan notes that no Qualified Person working for Brascan has verified the reported occurrences, and the information is not necessarily indicative of the mineralization on Brascan's property.

The Property covers mapped metasediments of the Salinas Formation (unit 1), comprising mica-quartz and quartz-mica schists, as well as locally occurring metaconglomerates and micaceous quartzites (CPRM Geology map, 1:250:000 scale; 2016). This is the same unit of the Salinas Formation that has been mined by CBL for spodumene lithium for almost 30 years, and contains Sigma's Grota do Cirilo deposit. Brascan intends to start prospecting, sampling, detailed mapping and multispectral analysis of satellite data immediately to identify potential exploration targets.

Brascan's option to acquire a 100% right, title and ownership interest in the Property over a 3-term period comprising $100,000 in total cash payments, issuance of 1,500,000 common shares, and an accumulative expenditure of $200,000 in exploration work. BHBC will retain a 2% Net Smelter Royalty (NSR), but the Company will have the right to purchase 1% of the NSR for $500,000. The Option Periods and payment schedule (in Canadian dollars): Option Period 1 ­ February 13, 2023 to September 30, 2023: $25,000 cash and issuance of 1,000,000 shares within 5 days of the term option agreement; $100,000 in exploration expenditures before September 20, 2023 and a second payment of $25,000 and issuance of an additional 500,000 shares before the end of Option Period 1. Option Period 2: October 1, 2023 to September 30, 2024: $100,000 in exploration expenditures before September 20, 2024 Option Period 3 ­ October 1, 2024 to September 30, 2025: $50,000 cash payment before September 20, 2025.