BCM Resources begins drilling at Thompson Knolls

Executive Summary

• BCM Resources Corp. has initiated its fully financed 2026 drill campaign at its 100%-controlled Thompson Knolls porphyry-skarn Cu-Au-Ag-Mo project in Utah.
• The campaign will test geological vectors identified from historical hole TK8 and magnetic data, utilizing a phased approach with RC precollars followed by diamond core drilling.
• The company simultaneously amended the terms of 20.6 million outstanding warrants, extending their expiration by one year while maintaining the current exercise price.

Key Details

• Drilling Contractors & Equipment: National EWP (Elko, Nev.) contracted for RC precollar drilling using a Schramm Epiroc 685 rig (2,950 ft capacity); TonaTec Exploration (South Jordan, Utah) contracted for core tail drilling using an AtlasCopco Christensen CS4002 rig (5,250 ft capacity).
• Drill Pattern & Spacing: Permitted holes will fan out in a southwesterly and southerly direction from historical hole TK8, with approximately 250-metre spacing between holes.
• Historical Intercepts (Hole TK8): 155.4 metres grading 0.66% copper, 0.12 g/t gold, and 7.4 g/t silver (announced May 24, 2023).
• Geological Targets & Methodology: Colorado School of Mines' CASERM study identified a strong vector for increasing mineralization southwest/south of TK8. Additional permitted holes will test porphyry mineralization in Area 2, with magnetic data suggesting skarn mineralization may underlie a broad area beneath the valley floor.
• Regional Comparables: Project shares geologic characteristics with KGHM's Robinson mine (~120 km west) and Rio Tinto's Kennecott/Bingham Canyon mine (~200 km northeast).
• Warrant Amendment: 20.6 million warrants extended by one year, with a new expiry date of May 22, 2027. Exercise price remains $0.25 per share. Amendment is subject to TSX Venture Exchange approval.
• Financing & Shareholder Context: Campaign is fully financed. Board acknowledged past periods of inactivity and poor market conditions, emphasizing efforts to secure financing with minimal dilution to long-term shareholders.