Drilling to Start at Coyote Copper's Arizona Copper Project the First Half of November and 97.7% of the Accelerated Warrants Were Exercised
Coyote secured drill permits and exercised warrants while assay results remain pending for its projects.
Coyote Copper Mines Inc. has signed a drilling contract with operations scheduled to begin in the first half of November 2026. The start date is pending the completion of current geophysical programs and the arrival of the drill rig.
The company also reported the exercise of 18,986,404 warrants, representing 97.7% of the accelerated warrants, which generated gross proceeds of C$3,368,556.63. The breakdown of the exercised warrants includes: * 7,311,901 warrants at $0.15 * 10,622,351 warrants at $0.20 * 1,052,152 finder's warrants at $0.14
Exploration activities are advancing with soil and channel sampling ongoing, drill roads and pads under construction, and all necessary permits secured. CEO Dan Weir highlighted investor confidence and excitement for the upcoming drilling program.
Coyote Copper Mines Inc. (CCMM) issued a follow-up to its September 15 announcement regarding Phase 1 drill permits and the subsequent warrant acceleration. The market was already aware of the October 15 warrant exercise deadline, making the exercise an expected event.
The transaction generated C$3.37M in proceeds, providing short-term liquidity to fund the November drilling program and ongoing exploration. However, the move introduces immediate dilution of approximately 19.7% to the share count. The update contains no new geological data or assay results, serving only to confirm the timeline for the previously announced drilling campaign.
Coyote Copper Mines Inc. is an exploration-stage company focused on the Copper Springs Project in Arizona's Copper Triangle. The project footprint has expanded to 72.36 sq km (17,880 acres) through recent staking. The property is strategically located adjacent to major copper producers and undeveloped deposits, including Rio Tinto/BHP's Resolution Copper, Capstone Copper, and KGHM.
The company is targeting a large-scale porphyry copper system, supported by geophysical "donut" anomalies, broad copper and molybdenum soil geochemistry, and historic channel sampling showing high-grade sulphide mineralization. The project benefits from existing infrastructure, including high-voltage power and perennial water access, which reduces development costs compared to deeper targets in the district.