The Canadian Arctic Archipelago is situated in the northernmost extremity of North America. The group of over 35,000 islands comprises much of the territory of Northern Canada – most of Nunavut and part of the Northwest Territories. Canada's claim to its north rests first on the charter granted to the Hudson’s Bay Company by King Charles II in 1670. Exploration of the Arctic has been a facet of Canadian history from the arrival of the first Europeans in North America until today. The ill-fated Franklin expedition of the Northwest Passage was one such exploration. Searches still continue to this day for the HMS Erebus and HMS Terror.