BCM Resources Corporation Completes Non-Brokered Financing

Rhea-AI Summary

BCM Resources Corporation has completed a non-brokered private placement financing, raising C$2,575,000 through the issuance of 20,600,000 Units at C$0.125 per Unit. The sole subscriber is a private mining company making a strategic long-term investment. Each Unit includes one common share and one purchase warrant exercisable at C$0.25 for one year. The funds will be used for working capital and paying outstanding accounts. BCM owns 100% of the Thompson Knolls project in Utah, a greenfield porphyry Cu-Au-Ag-Mo discovery. Notable results include drill hole TK8, which intercepted 155.4m of mineralized skarn averaging 0.66% Cu, 0.12 g/t Au, and 7.4 g/t Ag. The company operates under a 10-year BLM drill permit and plans to seek additional strategic investors for exploration drilling.

Positive

• Strategic investment from private mining company validates Thompson Knolls project potential
• 100% ownership of Thompson Knolls project in Utah, ranked #1 jurisdiction by Fraser Institute
• Strong drill results with TK8 showing 155.4m @ 0.66% Cu, 0.12 g/t Au, 7.4 g/t Ag
• 10-year drill permit secured from BLM allowing multiple drill rigs
• C$2.575M financing secured to support operations and clear payables

Negative

• Potential share dilution from 20.6M new units issued
• Short warrant exercise period of only one year
• Company needs additional financing for exploration drilling

Vancouver, British Columbia--(Newsfile Corp. - May 28, 2025) - BCM Resources Corporation (TSXV: B) ("BCM," the "Company") is pleased to announce the completion of its previously announced non-brokered private placement financing for gross proceeds of C$2,575,000 through the issuance of 20,600,000 Units priced at C$0.125 per Unit (the "Financing", see below for Unit details).

The sole subscriber of the Financing is a private, mining company, which views this as a strategic long-term investment.

BCM's President and CEO, Dr. Sergei Diakov, comments, "We are pleased to have received this strategic investment from a successful miner which endorses BCM management's belief that the Thompson Knolls Porphyry Cu-Au-Ag-Mo discovery has the potential to become a world-class deposit. The results of the in-depth scientific analysis of our drill core conducted by the Colorado School of Mines have given our team a high level of confidence in our upcoming drilling exploration."

Proceeds from the Financing will be used for general working capital purposes and to repay outstanding accounts payable.

The Company intends to seek additional financing from other miners/strategic investors regarding participation/funding to advance exploration drilling at its Thompson Knolls ("TK") project soon.

Thompson Knolls - Greenfield Porphyry Cu-Au-Ag-Mo Discovery

BCM owns a 100% interest in its flagship Thompson Knolls project, a blind greenfield porphyry Cu-Au-Ag-Mo discovery located in west-central Utah, USA. The project comprises 225 federal unpatented lode mining claims and two state section leases, totaling 2,242 ha (5,540 acres). Utah has recently been ranked by the Fraser Institute as the number one jurisdiction based on the Investment Attractiveness Index assessed worldwide. TK is located approximately 208 km southwest of Rio Tinto's Bingham Canyon porphyry copper-gold-molybdenum mine. The TK district is uniquely positioned in a sparsely populated region of Utah, with no environmentally sensitive areas.

To date, BCM Resources has conducted 3 phases of drilling comprising 12 drillholes, of which 7 delivered mineralized intercepts. Discovery hole TK1 intersected a porphyry copper mineralized body of quartz monzonite porphyry (QMP) intrusive. Follow-up drilling of 11 drill holes proved that mineralized porphyry within the Devonian age carbonate rocks (limestones and dolomites) also carries substantial copper-gold mineralization in the magnesian garnet-pyroxene skarns surrounding QMP. Phase 3 drilling resulted in the discovery of very encouraging Cu-Au-Ag mineralization in drill hole TK8, our best drill hole to date. TK8 intercepted a 155.4 m interval of mineralized skarn from a depth of 621.8 m to 777.2 m with an average grade of 0.66% Cu, 0.12 g/t Au, and 7.4 g/t Ag, including a 21.3 m interval containing 1.25% Cu, 0.2 g/t Au, 15 g/t Ag.

The Company is currently operating under a 10-year Plan of Operation drill permit from the U.S. Bureau of Land Management ("BLM") and the State of Utah, received in 2023. Said permit allows the Company to use multiple drill rigs at any one time.

Financing Details:

Each "Unit" compriseы one common share of the Company (a "Share") and one Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Share at an exercise price of C$0.25 for a period of one year from the date of issue.

The securities issued pursuant to this private placement are subject to a four-month hold period from the date of issue. The Company is not paying any finder's fees in connection with the Financing.

In connection with the Financing, BCM has granted the subscriber certain rights with respect to the Company, including a pre-emptive right to participate in future equity issuances to maintain their ownership level in BCM, subject to certain conditions, so long as the subscriber's ownership level in BCM, calculated on an undiluted basic basis, is not less than 3.0% of the issued and outstanding common shares of the Company.

Warrants issued under this Financing are subject to limitations on exercise by the subscriber to prevent the Warrant holder's shareholdings in BCM from exceeding 9.9% on undiluted basis.

The Company and the subscriber have a common insider and therefore the Company is considered a non-arm's length party under applicable policies of the TSX Venture Exchange.

About BCM Resources Corporation:

BCM Resources Corporation is a diversified Canadian mineral exploration company focused on the continued exploration of its flagship Thompson Knolls Porphyry Cu-Au-Ag-Mo project, in Utah's Great Basin, one of the premier metallogenic provinces in the world. The Company also controls prospective copper, gold, and molybdenum exploration projects in British Columbia and is managed by experienced and successful board members, technical team, and advisors. For further information, including area maps, sections, and photos, please visit our website.

Qualified Person:

Rick Redfern, MSc Geology is a "qualified person" for the purposes of the National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI- 43-101), and he has reviewed and approved the technical information contained in this News Release.

ON BEHALF OF BCM RESOURCES CORPORATION
Sergei Diakov
President and Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:
+1 (604) 646-0144, ext. 222
info@bcmresources.com
www.bcmresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Concerning Forward-Looking Statements:

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. Forward-looking statements in this press release include statements with respect to the Thompson Knolls Porphyry discovery having the potential to become a world-class deposit, the Company seeking additional financing from other miners/strategic investors investors to advance exploration drilling at its TK project soon, use of proceeds from the Financing and estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events including, among others, assumptions about future prices of gold, silver, copper and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining government approvals and financing on time, uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions, and; the possibility of cost overruns or unanticipated expenses in these exploration programs. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the actual results of current exploration activities, the uncertainties related to resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; risks relating to grade and continuity of mineral deposits; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities, uncertainties relating to the availability and costs of financing needed in the future and regulatory restrictions, including environmental regulatory restrictions, and those risks set out in the filings on SEDAR made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this corporate press release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253605

FAQ

What is the size and price of BCM Resources' (BCMRF) recent private placement?

BCM Resources raised C$2,575,000 through issuing 20,600,000 Units at C$0.125 per Unit, with each Unit including one share and one warrant exercisable at C$0.25 for one year.

What are the recent drilling results from BCM Resources' Thompson Knolls project?

The best results came from drill hole TK8, which intercepted 155.4m of mineralized skarn averaging 0.66% Cu, 0.12 g/t Au, and 7.4 g/t Ag, including a 21.3m interval of 1.25% Cu, 0.2 g/t Au, 15 g/t Ag.

Where is BCM Resources' Thompson Knolls project located?

The Thompson Knolls project is located in west-central Utah, USA, approximately 208 km southwest of Rio Tinto's Bingham Canyon mine, comprising 2,242 ha of mining claims.

How will BCM Resources use the proceeds from the private placement?

The proceeds will be used for general working capital purposes and to repay outstanding accounts payable.

What rights were granted to the private placement subscriber?

The subscriber received pre-emptive rights to maintain their ownership level in future equity issuances, subject to maintaining at least 3% ownership, with warrant exercise limitations preventing ownership above 9.9%.