Brutus Mining to Acquire the Bay of Islands Hydrogen Project

Metals Creek Resources Corp. (TSXV: MEK) has entered into a Property Option Agreement to acquire a 100% interest in the Bay of Islands Project, a natural hydrogen exploration asset located in Western Newfoundland. The transaction requires an aggregate cash consideration of $100,000 payable over two years and the issuance of 1,200,000 common shares at a deemed price of $0.76 per share, subject to Canadian Securities Exchange (CSE) acceptance. Upon full exercise, the company must grant the Optionors a 3% Gross Metals Returns (GMR) royalty, with 1.5% redeemable for $1,000,000.

Planned work on the project includes public geoscience data compilation, structural interpretation, and a proposed soil-gas survey and seismic mapping during the 2027 field season. Concurrently, the company closed an $800,020 flow-through private placement on November 4, 2026, to fund exploration on its Ogden Gold Project and qualify Canadian exploration expenses.

Metals Creek Resources Corp. (MEK) has acquired the Bay of Islands property, marking a low-cost expansion of its existing Newfoundland hydrogen portfolio, which has been systematically staked and sampled over the past several months. The transaction involves a total cash outlay of $100,000, a figure immaterial to the company's current cash position and burn rate, aligning with a conservative capital preservation strategy.

The deal also includes share consideration at a deemed price of $0.76, a valuation that stands in sharp contrast to the prevailing market price of $0.04 and introduces execution risk pending approval from the Canadian Securities Exchange (CSE). Concurrently, the company is securing an $800,000 financing to address immediate working capital and flow-through expenditure obligations, thereby extending its operational runway. This news is considered incremental and expected for an exploration-stage junior, without altering the fundamental risk profile or liquidity position.

Metals Creek Resources Corp. (MEK) is a Canadian exploration company focused on gold, natural hydrogen, helium, and rare earth elements. Its flagship asset is the Ogden Gold Project, a 50/50 joint venture with Discovery Silver Corp. located in the Timmins Gold Camp, Ontario. The project features an 8 km strike length along the Porcupine-Destor Fault and recent drilling returned high-grade intercepts, including 115.51 g/t Au over 9.85 m.

The company also holds a Newfoundland portfolio comprising six natural hydrogen and helium projects staked in partnership with Benton Resources. These include the Smoking Gun and Parson's Pond properties, which have shown historical gas venting and anomalous helium and methane readings. Additionally, the Yellow Fox Property has been optioned to Lomiko Metals, showing highly anomalous rare earth element soil assays. All of Metals Creek’s assets are currently in early-stage exploration or prospecting.