Core Points - Naughty Ventures Corp. has entered into a purchase agreement to acquire a 100% undivided interest in Sorrento Resources' Lord Baron property, which is expected to provide a near-term exploration opportunity [1][2] - The acquisition will be completed through the issuance of 1,000,000 common shares at a deemed price of $0.18 per share, subject to a 2% net smelter returns royalty [2][3] - The closing of the acquisition is contingent upon receiving necessary consents and approvals, including from the Canadian Securities Exchange [3] Company Overview: Naughty Ventures Corp. - Naughty Ventures is a Canadian exploration company focused on acquiring and developing mineral assets with strong value potential [4] - The company holds significant equity positions in Mammoth Minerals Limited and has interests in various mineral projects, including the York Harbour copper-zinc project and the Bottom Brook rare earth property [4] Company Overview: Sorrento Resources Ltd. - Sorrento Resources is engaged in the acquisition, exploration, and development of mineral property assets in Canada, with a focus on economic precious and base metal properties [5] - Key projects include the Wing Pond, Lord Baron, PEG lithium project, and Harmsworth (VMS) project, all located in Newfoundland [5]

Core Viewpoint - Sorrento Resources Ltd. has entered into a purchase agreement with Naughty Ventures Corp. for the acquisition of the Lord Baron property, allowing Sorrento to focus on its other projects [1][2]. Group 1: Purchase Agreement Details - Naughty Ventures will acquire a 100% undivided interest in the Lord Baron Property in exchange for issuing 1,000,000 common shares at a deemed price of $0.18 per share, subject to a 2% net smelter returns royalty [3]. - The acquisition is expected to close in the coming weeks, pending necessary consents and approvals, including from the Canadian Securities Exchange [4]. Group 2: Company Focus and Strategy - Sorrento Resources aims to concentrate on the Bottom Brook Rare Earth Element Project and the Rodgers Cove Gold Project, leading to the decision to monetize the Lord Baron Project [2]. - Naughty Ventures is focused on acquiring and developing mineral assets with strong value potential, and it has a significant equity position in Mammoth Minerals Limited and interests in other mineral projects [6][7].