BCM Intercepts Strong Skarn Mineralization in Diamond Drill Hole TK21 at its 100% Controlled Thompson Knolls Project, Utah

BCM Resources Corporation reported that vertical hole TK21, drilled from the TK5 platform in Millard County, Utah, was completed to a depth of 4,241 ft (1,293 m) before being lost in difficult quartzite ground. The company described significant mineralized copper skarn over a down-hole length of approximately 1,000 ft (304.8 m). A sub-interval of approximately 460 ft (140 m) reportedly contains appreciable chalcopyrite more than 1% by volume.

Mineralization is described as beginning at approximately 2,952 ft (900 m) in dolomitic marbles and continuing to approximately 3,952 ft (1,205 m). At 4,086 ft (1,245.4 m), the hole entered Eureka quartzite with some discontinuous zones of sulfide mineralization; the Pogonip carbonate, the intended deeper skarn host, was never reached.

Core is undergoing logging, sawing, and sampling, meaning TK21 has not yet been sampled. No grades, copper assays, gold or silver assays, molybdenum assays, cutoff grades, compositing, true widths, capping, or metal equivalents are provided. Assays for TK20 remain pending due to laboratory backlogs and multi-element technique requirements for molybdenum, copper, gold, silver, and rhenium.

An IP/MT survey was completed, with data being processed into 3D models for a future Phase 5 program, though no results were shown. The next hole, TK22, with an azimuth of 80° and inclination of 75°, will be drilled from the TK21 platform toward TK20.

Qualified Person Mr. Richard R. Redfern, M.Sc., CPG, is disclosed as a shareholder and a former Director of the Company. This release carries no assay information whatsoever and marks the fourth consecutive BCM release in this campaign whose headline mineralization is unassayed.

BCM Resources Corporation (B) has seen its stock price rise approximately seven-fold in six weeks, driven by the market’s pricing in a mineralized system significantly larger than any previously assayed. The company’s historical anchor remains TK8, drilled on 24 May 2023, which returned an intercept of 155.4 meters at 0.66% copper, 0.12 grams per tonne gold, and 7.4 grams per tonne silver. More recent, non-assayed intervals include TK20’s 594-meter mineralized zone reported on 6 and 17 August 2026, and the approximately 535-meter skarn intervals identified in TK15 and TK16.

The equity closed at C$0.12 on 31 July 2026, the day before the first TK20 release. It rose to C$0.89 on 11 September 2026, establishing a 52-week range of C$0.10 to C$0.89. The current price of C$0.57 sits roughly 64% of the way up that range, reflecting a market that has priced in a materially larger system than anything assayed to date.

The most recent release, TK21, delivered 305 meters of visually mineralized skarn, compared to TK20’s 594 meters of visually mineralized core. While the new hole is about half the length of the anchor, interval length in a sub-vertical or bulk system is not necessarily repeatable hole-to-hole. The decisive factor is that the delta cannot be measured in grade because there is no grade data. There has been no step-out in an assayed sense; rather, a new collar located 250 meters west found the same rock type.

The equity is currently priced on an entire programme, yet assays have been released for zero of the six Phase 4 holes. Two consecutive releases attributed delays to laboratory backlogs. A cadence of visual observations on 6 August, 17 August, 19 August, 3 September, and 15 October has kept news flow alive and supported the stock without providing the assay data necessary to validate or refute the geological thesis.

Offsetting this lack of assay data, the hole found what the geological model predicted at the predicted location, the TK5 site on the southwest vector. The company reported no blanks or lithology contradicting the model. BCM Resources Corporation holds C$6.86 million in cash as of 28 February 2026, with no debt. However, as a pre-resource explorer with no NI 43-101 mineral resource, no metallurgy, no economic study, and no revenue, a visual-confirmation step-out represents the minimum deliverable at this stage. It does not change the scale of the system, the grade, or the odds, as there is still no continuity data.

Material information would have included TK20 assay results, a cutoff-grade interval from any Phase 4 hole, or evidence that the 250-meter drill spacing holds grade between collars. None of that is present in this release.

BCM Resources Corporation (TSXV: B) is a Canadian mineral exploration company with no revenue, no production and no NI 43-101 mineral resource on any project. Its primary asset is the 100%-controlled Thompson Knolls (TK) porphyry-skarn Cu-Au-Ag-Mo discovery in Millard County, western Utah, within the Great Basin. The property comprises 5,540 acres (2,242 ha) via 225 BLM claims and two Utah SITLA leases, located approximately 28 km east of the Nevada-Utah border and 4 km south of Highway 6/50. The target is a blind porphyry-skarn system beneath post-mineral fanglomerate cover averaging ~610 m.

According to the company, the site is situated approximately 208 km southwest of Rio Tinto's Bingham Canyon/Kennecott mine and ~120 km east of KGHM's Robinson mine. Secondary assets include the Shan molybdenum discovery in British Columbia, plus other prospective Cu-Au-Mo projects in BC. The MD&A also references a Discovery Knoll target in Utah (Cu-Au-Ag) awaiting drill testing, and a Baker Nevada project is referenced in the March 2026 presentation metadata.

Ownership history includes a 51% earn-in from Inland Explorations in 2022, with 100% ownership achieved via the 2023 merger with Inland Explorations. Permitting includes a 10-year BLM Plan of Operations secured in 2023, allowing up to 10.5 acres of disturbance and multiple simultaneous rigs. The company states there are no First Nations communities on the property, no surface water, and no endangered species identified.

Management includes Dr. Sergei Diakov (President/CEO, PhD Economic Geology, ex-BHP/Anglo American/AngloGold Ashanti, cited involvement in Oyu Tolgoi and Nuevo Chaquiro discovery teams); Scott Steeds (Chairman); Dale McClanaghan (CFO/Director); and Darcy McKeown (Director). The technical team includes John P. Schloderer (ex-BHP, Escondida, Reko Diq) and QP Rick Redfern (Moly Dome molybdenum porphyry discovery).

Capital structure details from prior-period context show 243,112,115 shares outstanding at 28 February 2026; a presentation cites 243,574,063 basic and 313,932,148 fully diluted. Book value per share is C$0.12. At C$0.57, the stock trades at ~4.7x book — the market is valuing the TK prospect at nearly five times the capitalised exploration spend carried on the balance sheet (intangibles C$23.68M).

The balance sheet as of 28 February 2026 shows cash C$6.86M, no debt, total liabilities C$0.44M, working capital C$6.43M, and total equity C$30.13M. Six-month operating cash outflow was C$0.11M and capex C$0.24M — but these figures pre-date the bulk of the Phase 4 drilling spend.

Financing history includes a C$7.18M non-brokered placement closed 10 February 2026 (35.9M units at C$0.20 with C$0.30 one-year warrants; 20.6M legacy warrants at C$0.25 extended to 22 May 2027). Both warrant classes are in the money at the current price.

This is a non-earnings release, so the financial detail above is backdrop only — it is not restated or updated by today's news, and the most recent reported cash balance is eight months stale relative to the date of this release.