Kinross to Initiate Two Phase 6,000-8,000 Metre Drill Program on BTU Dixie Halo Property Near Great Bear Property

The most recent news (February 12, 2026) confirms that Kinross Gold Corporation, through its subsidiary Great Bear Resources, is initiating a two-phase, 6,000-8,000 metre core drilling program on BTU’s Dixie Halo property. Phase One is set to begin around February 20, 2026, targeting the "TNT" area with approximately 8 drill holes (3,000-4,000 metres). Phase Two will involve follow-up drilling at TNT and exploration on the west side of the property. This follows the 2025 program where Kinross completed 8,200 metres, yielding a highlight of 2.65 g/t Au over 0.75m.

The news is Material - Positive for several reasons: - Major Partner Validation: Kinross is the operator and is funding 100% of this work to earn a 70% interest. Their election to restart a large-scale program suggests that the 2025 results, while low-grade (anomalous values of 0.25 to 1.0 g/t Au), provided enough structural and geochemical encouragement to justify further capital allocation. - Strategic Importance: The Dixie Halo property is adjacent to Kinross's flagship Great Bear project. Kinross’s move to "regional exploration" (as noted in their 2025 MD&A) benefits BTU directly as Kinross searches for satellite deposits to support their future mill. - Operational Momentum: This program is the first of three planned drill programs for BTU in the first half of 2026, marking a significant increase in activity compared to the stagnant 2024 period.

BTU Metals is a Canadian explorer focused on gold and copper. Its flagship is the Dixie Halo project, which wraps around the Great Bear project (Kinross) in Red Lake, Ontario. The property is currently under a 70% earn-in option to Kinross. Additionally, the company recently acquired the Dixie East project (near Red Lake) and a large land package in Wawa (Hubcap/Echum) to diversify its discovery exposure.