BCM Resources Corp Initiates Its 2026 Drill Campaign at Its 100% Controlled Thompson Knolls Porphyry-Skarn Cu-Au-Ag-Mo Project, Utah

BCM Resources (OTC:BCMRF) has begun its fully funded 2026 drill campaign at the 100% controlled Thompson Knolls porphyry-skarn Cu-Au-Ag-Mo project in southwestern Utah.

Rhea-AI Summary

BCM Resources (OTC:BCMRF) has begun its fully funded 2026 drill campaign at the 100% controlled Thompson Knolls porphyry-skarn Cu-Au-Ag-Mo project in southwestern Utah.

BCM contracted National EWP and TonaTec; program will pre-collar with RC then twin with diamond core to test a 155.4 m skarn intercept and porphyry targets. A warrant amendment extends 20,600,000 warrants to May 22, 2027 at $0.25, subject to TSXV approval.

Positive

• Fully funded 2026 drill campaign contracted to National EWP and TonaTec
• Significant historical intercept: 155.4 m @ 0.66% Cu, 0.12 g/t Au, 7.4 g/t Ag in hole TK8
• Permitted drill pattern with ~250 m spacing to test SW and S mineralization vectors
• Dual drilling method: RC pre-collars followed by diamond core tails for detailed assays

Negative

• Warrant amendment affects 20,600,000 warrants, extending expiry to May 22, 2027 (shareholder dilution risk)
• Warrant extension requires TSXV approval, creating regulatory uncertainty around the amendment timing
• Company cited prior periods of inactivity and poor market conditions, indicating financing headwinds

Argus Mar 18 session

-8.33% close to close Open Argus

Details

News Market Reaction – BCMRF

On Mar 18, the first trading day after this news, BCMRF closed 8.33% below the previous close.

Data tracked by StockTitan Argus for the Mar 18 session.

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Vancouver, British Columbia--(Newsfile Corp. - March 17, 2026) - BCM Resources Corporation (TSXV: B) ("BCM" or the "Company") is pleased to announce that drilling has commenced at its 100% controlled Thompson Knolls porphyry-skarn Cu-Au-Ag-Mo discovery situated proximal to Highway 50 in southwestern Utah. In a Company news release dated March 2, 2026, BCM announced it had contracted National EWP of Elko, Nevada, and TonaTec Exploration of South Jordan, Utah, to complete its fully funded 2026 drill campaign.

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In a company news release dated May 24, 2023, BCM announced a skarn-hosted intercept of 155.4 m grading 0.66% Cu, 0.12 gpt Au, and 7.4 gpt Ag in hole TK8. Following this discovery, the Company, through a research project undertaken by the Colorado School of Mines' Center to Advance the Science of Exploration to Reclamation in Mining ("CASERM"), analyzed core from TK8 and other nearby drill holes. This study identified a strong vector pointing to potentially increasing mineralization to the southwest and/or south of hole TK8. To test this theory, BCM has permitted an array of drill holes fanning out in a southwesterly and southerly pattern from TK8. Spacing between holes is approximately 250 m. National EWP will complete a series of cased pre-collar holes through pediment fanglomerate gravel using reverse-circulation drilling. National EWP will use its Schramm Epiroc 685 Reverse Circulation rig (capable of drilling to a depth of 2,950 feet).

Upon completion of the first pre-collar hole by National EWP, TonaTec Exploration will deploy its AtlasCopco Christensen CS4002 Diamond Drill rig (capable of drilling to a depth of 5,250 feet), to complete core tails that will test extensions of the mineralized zone encountered in hole TK8. Based on magnetic data, BCM's geologic team believes skarn mineralization may underlie a broad area beneath the valley floor. A number of permitted holes will also test the Porphyry mineralization in Area 2.

World-class porphyry-skarn systems situated in the same geologic province as Thompson Knolls include KGHM's Robinson Mine, situated approximately 120 km west, and Rio Tinto Group's Kennecott Copper Mine (aka Bingham Canyon Mine), situated approximately 200 km northeast. Thompson Knolls shares numerous geologic characteristics with both important porphyry-skarn deposits.

At this time, the BCM Board would like to thank shareholders for their patience and understanding during this period of inactivity and poor market conditions. The company worked hard to secure the best financing terms available with the least dilution to our many long-term shareholders.

Warrant amendment – the Company has amended the terms of 20,600,000 warrants that were due to expire on May 22, 2026. Each whole Warrant entitles the holder to purchase one common share of the Company. The term of the Warrants will be extended by one year with an expiry date of May 22, 2027. The exercise price of $0.25 per share remains unchanged. The Warrant Amendment is subject to approval by the TSX Venture Exchange.

About BCM Resources Corporation
The Company is a diversified Canadian mineral exploration company now focused on advancing exploration of the Thompson Knolls Porphyry Cu, Au, Ag, Mo discovery. The Company controls prospective Copper, Gold, and Molybdenum exploration projects in British Columbia. The Company is managed by experienced and successful board members and advisors. For further information, including area maps, sections, and photos, please visit our website at www.bcmresources.com or contact us by e-mail at info@bcmresources.com.

ON BEHALF OF BCM RESOURCES CORP.

"Sergei Diakov"
Chief Executive Officer

For further information, please contact:

Investor Relations, Telephone: 1 (604) 646-0144, ext. 331

info@bcmresources.com

www.bcmresources.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288880

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When did BCM Resources (BCMRF) start drilling at Thompson Knolls and who is contracted?

Drilling commenced March 17, 2026; National EWP will do RC pre-collars and TonaTec will complete diamond core tails, according to the company, under a fully funded 2026 program.

What was the notable historical drill result at Thompson Knolls that BCMR is testing?

The key historical intercept is 155.4 m grading 0.66% Cu, 0.12 g/t Au, 7.4 g/t Ag in hole TK8, and BCMR is testing extensions southwest and south of that hole, according to the company.

How will BCMR drill at Thompson Knolls and what rig depths are planned?

BCMR will pre-collar with RC using a Schramm Epiroc 685 (to ~2,950 ft) then use an AtlasCopco Christensen CS4002 diamond rig (to ~5,250 ft) to complete core tails, according to the company.

What does the BCMR warrant amendment mean for shareholders and expiry timing?

BCM extended 20,600,000 warrants by one year to May 22, 2027 at an unchanged $0.25 exercise price; the amendment remains subject to TSXV approval, according to the company.

Which targets will BCMR test first in the 2026 Thompson Knolls program?

Initial holes will fan southwest and south from TK8 (approximate 250 m spacing) to test skarn vectors and permitted Area 2 porphyry targets, according to the company.

Are the 2026 drill programs at Thompson Knolls fully funded and permitted?

Yes; BCMR describes the 2026 drill campaign as fully funded and states multiple permitted holes are planned to test both skarn and porphyry targets, according to the company.