Thunderbird Completes Acquisition of Option on Big Onion Copper-Molybdenum Property

Thunderbird Minerals Corp. (BIRD) has completed the acquisition of 1563963 B.C. Ltd., making the entity a wholly owned subsidiary. Through this transaction, Thunderbird now holds an exclusive option to acquire a 100% interest in the Big Onion copper-molybdenum property in British Columbia. The deal was settled via the issuance of 20,000,000 common shares to the vendors, valued at a deemed price of $0.16 per share, totaling $3.2 million.

The closing follows the definitive agreement announced on November 3, 2026, and received conditional acceptance from the TSX Venture Exchange on November 5, 2026. A technical report by Qualified Person Brady Clift, P.Geo., effective October 21, 2026, notes historical data limitations and does not establish a current mineral resource. Phase 1 exploration is planned to cost approximately $250,000 over the first 12 months, focusing on data compilation, validation, and geophysical surveying.

Remaining option obligations include cash payments of $150,000 due April 7, 2027, and $200,000 due April 7, 2028. Share issuances to the optionor, Deep Core Resources Inc., total 2,000,000 shares in four tranches of 500,000 shares each, scheduled through April 2029. Cumulative exploration expenditure requirements are set at: - $250,000 within 12 months - $750,000 within 24 months - $1.25 million within 36 months - $2.0 million within 48 months

The property carries a 3.0% Net Smelter Return (NSR) royalty, reducible by 0.25% increments upon $250,000 payments.

Thunderbird Minerals Corp. (BIRD) confirmed the successful closing of the Big Onion option acquisition, a transaction previously announced on November 3. The terms, dilution, and strategic rationale remain unchanged from the initial announcement. The deal adds a new exploration-stage asset to the company’s portfolio, diversifying its geographic and commodity exposure into the Babine porphyry belt in British Columbia.

The transaction involved the issuance of 20,000,000 shares, increasing the share count from approximately 34.3 million to 54.3 million. Future share issuances to Deep Core and the exercise of 30,000,000 warrants will further dilute existing shareholders. Cash outlays for the option and initial exploration are manageable relative to the $1.68 million cash balance reported in Q2 2026, but the cumulative $2.0 million exploration commitment and $350,000 in cash payments will require disciplined capital allocation and likely necessitate additional financing in 2027.

The stock closed at $0.15 on November 10, down from $0.17 on November 3, indicating the market had already priced in the deal and viewed the dilution and exploration-stage risk as neutral to slightly negative.

Thunderbird Minerals Corp. (BIRD) is a grassroots mineral explorer focused on evaluating, acquiring, and exploring mineral-endowed properties in tier-one North American jurisdictions. The company’s portfolio includes the Bullseye gold project in Yukon, the Eagle Mountain gold project in British Columbia, the Argo gold-copper project in British Columbia, the Apache copper-gold project in California, and the newly acquired Big Onion copper-molybdenum property in British Columbia.

All properties are classified as exploration-stage or discovery-stage projects with no current mineral resources or reserves. The Big Onion property spans approximately 4,493 hectares in the Omineca Mining Division, underlain by Jurassic Hazelton Group volcanic and sedimentary rocks intruded by quartz diorite and quartz feldspar. Historical exploration dates back to the 1960s, with recent work including soil sampling and UAV magnetic surveys in 2021 and 2022.