Domestic Metals Provides Update on Drill Program at Smart Creek Project, Montana

Domestic Metals Corp. (DMCU) has provided a status update on its inaugural diamond drilling program at the Smart Creek property in Montana. The company reports that two holes have been completed, totaling 1,110.69 meters. Hole SMCR-26-001 measured 456.29 meters, while SMCR-26-002 measured 654.40 meters. A third hole, SMCR-26-003, is currently in progress.

Core from SMCR-26-001 has been logged and shipped to ALS Labs in Reno, Nevada. Core from SMCR-26-002 has also been logged and is expected to follow shortly. First assay results are guided for late November 2026. This release does not include assay results, grades, intervals, cutoffs, or true widths. Instead, it discloses visual and logging observations at specific depths.

In hole SMCR-26-001, copper oxide was observed in silica-manganese cemented breccia between 11.90 and 14.50 meters. Copper mineralization was noted near the surface at 13.5 meters and 53.6 meters. Sulphide intervals were identified at 123.33 meters, 152.3 meters, and 342.65 meters, with the latter described as a quartz vein with sphalerite and pyrite-chalcopyrite margins, and possible tennantite.

In hole SMCR-26-002, chrysocolla-rich oxidized copper was observed at approximately 15 to 16 meters. Hypogene chalcopyrite-pyrite-pyrrhotite-sphalerite mineralization was documented as bedding-parallel replacement, disseminated to blebby, stockwork, and discordant fracture fill. Significant mineralization was documented between approximately 151 meters and 316 meters. A chalcopyrite-rich replacement zone was identified between 205.5 and 208.4 meters. Locally high copper concentrations were noted at 208.7 meters, 213.01 meters, and 270.5 meters. Semi-massive chalcopyrite-sphalerite was observed at 316.3 meters, and scheelite was identified at 126.1 meters.

The geological objective is to delineate CRD-style mineralization at the Gold Coin prospect. This references Rio Tinto’s historical hole SMCR0022, which reported 109.73 meters at 0.75% copper, including 89 meters at 0.97% copper, as disclosed in a news release on August 20, 2024. The current program aims to extend this zone and test porphyry Cu-Mo linkages, as well as epithermal and porphyry targets at Smart Creek, Sunrise, and Radio Tower.

A collar table indicates that both completed holes were collared at effectively the same site, located at Easting 326789.5/326790 and Northing 5148997. The holes were drilled with dips of -55 degrees and azimuths of 0 degrees for SMCR-26-001 and 300 degrees for SMCR-26-002, representing a two-hole fan from a single setup.

Daniel MacNeil, P.Geo., is the Qualified Person for this release. He is disclosed as not independent, serving as an advisor and consultant with options held in the company. No sampling protocol, QA/QC program description, or assay tables are included in this release. The company’s CEO has a scheduled conference appearance in Munich, Zurich, and London twice, with investor relations handled by Liviakis Financial.

Domestic Metals Corp. (DMCU) announced that its drilling rig is active and core samples indicate a hydrothermal system consistent with expectations, with assay results expected in four to six weeks. The company is a pre-resource explorer with no NI 43-101 resource, no revenue, and a market capitalization of approximately C$10 million, or C$16.8 million on a fully diluted basis of 120.1 million shares. The firm carries a going-concern flag in its latest Management’s Discussion and Analysis.

The stock has declined approximately 64% from its April high of C$0.39, where it was driven by a January 2026 surface-sampling release reporting 102 g/t Au and an April IP survey. The share price currently sits at C$0.14, near its 52-week low, reflecting a market assumption of minimal impact from the current drill program. A result at or better than the historical intercept of 109.73 m @ 0.75% Cu against the current market cap would represent a significant positive relative to current valuations.

Financially, Domestic Metals held C$2.77 million in cash as of March 31, 2026, supplemented by a C$3.38 million placement in April. The company reported a Q1 2026 net loss of C$1.18 million, compared to C$0.12 million in Q1 2025, with operating cash burn of C$1.19 million for the quarter. Drilling 1,110.69 meters in roughly 66 days, at a rate of approximately 17 meters per day, suggests the 9,000-meter program is an 18-month proposition at the current pace, extending well beyond the 105 days implied in September. With a monthly burn of approximately C$390,000, another financing event is likely before the program completes. The company has 41.3 million warrants at C$0.40, which are currently approximately 65% out of the money, and a fully diluted share count 67% above the basic count.

The stock is expected to trade flat to modestly weaker on the day, likely drifting with copper prices and the November/December conference circuit until assay results are released. Trading volume data was not provided, preventing an assessment of conviction behind recent price movements.

Domestic Metals Corp. (TSXV: DMCU; OTCQB: DMCUF; FSE: 03E0) is a Vancouver-based explorer with no revenue, holding an option to earn up to 60% of the 8,000-hectare Smart Creek copper-gold-silver project in the Maxville Mining District, Granite County, Montana, roughly 50 km northwest of the Butte complex. Rio Tinto retains a claw-back right that leaves Domestic with 40% after claw-back, and has a technical team monitoring progress. Earn-in requires a minimum US$7M in exploration expenditure over four years to June 2029, with staged commitments of US$350k (year 1), US$1.65M (June 2027), US$1M each in 2028, 2029 and 2030.

The company’s target inventory includes the Smart Creek porphyry/CRD target and Gold Coin prospect (the historical Rio Tinto SMCR0022 area), Smart Creek Exotic (a 2.5 km IP chargeability feature), Sunrise Mine (porphyry dykes and skarn ~1 km east of the past-producing mine, with a historical 12,500 oz Au at 6.22 g/t Au / 31.1 g/t Ag / 1.5% Cu), and Radio Tower (a 1.5 × 1.4 km chargeability body coincident with high-grade surface Cu-Au-Ag CRD samples).

Technical bench strength is provided by Peter Megaw (CRD specialist), Dan MacNeil, and Alan Wainwright, with Gordon Neal as CEO.

The capital structure consists of 71.9M shares basic, 41.3M warrants, 6.9M options, and 120.1M fully diluted, with insiders holding approximately 8.8%. There is no resource estimate, PEA, metallurgy, or revenue. Prior-period financial context shows a Q1-2026 net loss of C$1.18M, cash of C$2.77M at March 31, 2026, operating cash outflow of C$1.19M for the quarter, total equity of C$5.14M, book value of C$0.09/share, and disclosed going-concern uncertainty.

Promotional spend includes Machai Capital C$300k for two months, Epstein Research US$6k, HoldCo Markets C$44.4k, Liviakis Financial for IR, and a four-city European conference schedule. The shareholder-communications line rose to C$680,142 in Q1-2026 from C$48,829 a year earlier.