07:58 AM EST, 11/28/2024 (MT Newswires) -- Stuhini Exploration ( STXPF ) said overnight Wednesday that it secured an option to acquire the Jersey Valley gold property in Nevada from Goodsprings Exploration.

Stuhini said there are no work commitments associated with the option and the only committed obligation is the US$7,500 cash payment on signing.

Other payments required under the agreement are all at the company's discretion should it wish to maintain the option after year 1.

"We are excited to obtain an option on the Jersey Valley property on reasonable and non-dilutive terms," President and CEO Dave O'Brien said. "The property represents an opportunity for us to explore in a jurisdiction known for being well endowed with precious metals and hosting several large mines over the years."

Stuhini's share price closed yesterday near a 52-week low at $0.115.