BTU Metals Corp. reports on mineral exploration activity across its Ontario project portfolio. The junior mining exploration company’s recurring updates center on the Dixie Halo Project in Red Lake, Ontario, which is optioned to Kinross and sits adjacent to the Kinross Great Bear Project, the Dixie East Project, and gold and critical minerals properties in the Wawa gold district.
Company news also covers exploration programs, geophysical work, drilling plans, project acquisitions, financing activity, stock option grants, and other governance or capital-structure matters tied to BTU’s public-company status on the TSX Venture Exchange and OTCQB market.
BTU Metals (BTUMF) has commenced its initial drilling program at its wholly owned Hubcap gold exploration property in Wawa, Ontario.
The program is designed to test targets identified through geophysical work and surface results, with approximately 1,200 meters of drilling planned over 5-7 holes. The property contains surface gold occurrences and shear zones with carbonate-sericite alteration and quartz-carbonate zones. The area has been explored only sporadically since the early 1900s and is now consolidated by BTU.
BTU Metals (BTUMF) reported Kinross Gold’s 2026 Phase 1 drilling results on BTU’s optioned Dixie Halo property and outlined upcoming drill programs.
Kinross completed eight diamond drill holes totaling 4,528.5 metres in the TNT area of Dixie Halo, encountering gold mineralization in every hole, from less than 1 g/t to as high as 6 g/t Au. Copper-silver mineralization was also intersected, including a 16 m interval grading up to 0.530% Cu and 8.22 g/t Ag, plus high-grade sub-intervals of 8.41% Cu and 116 g/t Ag over 0.4 m and a 24.55 m interval at 0.626% Cu and 12.61 g/t Ag in hole BTU-26-15.
Kinross plans to begin Phase 2 drilling later in 2026, focusing on further copper-silver targets at TNT. Separately, BTU has arranged a contractor for an initial ~1,200 m drill program on its Hubcap and Centennial areas near Wawa, Ontario, and notes that, as of August 31, 2026, the company is no longer listed as BTUMF-OTC in the USA but continues to trade on the Pink Sheets.
BTU Metals (OTCQB:BTUMF) provided more details on its June 3, 2026 agreement to acquire a 100% interest in the Dixie East Block 3 Project in Ontario’s Red Lake District.
The acquisition adds 6 claims, is adjacent to Kinross’s Great Bear Project and BTU’s Dixie Halo Project, and extends BTU’s Dixie East strike coverage to about 17 kilometres.
BTU Metals (OTCQB:BTUMF) entered a definitive agreement to acquire a 100% interest in the Dixie East Block 3 claims, about 6 km east of Kinross' Great Bear Project in Ontario. The deal adds to BTU's Dixie East Project, bringing total strike coverage to approximately 17 km.
The property is directly adjacent to BTU's Dixie Halo Project, lies along an interpreted extension of the regional structural corridor hosting the Great Bear gold deposit and Strider Zone, and has no recorded prior gold exploration. Consideration totals 800,000 shares, $16,000 cash and a 1.5% NSR, with BTU able to buy back 0.5% for $500,000. Work on Block 3 is planned to begin this summer, subject to TSXV approval of the transaction.
BTU Metals (OTCQB:BTUMF) signed an option to acquire a 100% interest in the Dixie East Block 2 gold property, 30 km east of Kinross’ Great Bear Dixie Project near Red Lake, Ontario.
The 49-claim, 2,450-acre package requires $78,000 in cash and 400,000 shares over four years, subject to TSXV approval.
BTU Metals (OTCQB:BTUMF) closed an oversubscribed non-brokered private placement on March 23, 2026, raising $663,900 through the sale of 11,065,000 Units at $0.06 per Unit. Each Unit includes one common share and one-half warrant; whole warrants exercisable at $0.10 for 12 months.
Proceeds will fund exploration across the Ontario portfolio, including Red Lake and Wawa. The company paid finders $16,981.20 cash and 283,020 finder warrants at $0.075 for 12 months. A senior officer subscribed for 170,000 Units, treated as a related-party transaction under MI 61-101. Securities are subject to a four-month-and-one-day hold; closing is subject to TSXV approval.
BTU Metals Corp (OTCQB:BTUMF) announced a non-brokered private placement to raise up to $630,000 by issuing up to 10.5 million units at $0.06 per unit, each unit including one common share and one-half warrant.
Each whole warrant is exercisable at $0.10 for 12 months. Proceeds will fund Ontario work programs and general working capital; closing is subject to TSX Venture Exchange approval. BTU says, combined with prior flow-through financing and cash on hand, the company is funded into 2027.
BTU Metals Corp (OTCQB:BTUMF) granted 4,000,000 stock options to directors, officers and consultants on February 16, 2026. The options are exercisable at $0.07 per share and expire three years from the grant date under the company stock option plan.
This grant follows the company's existing stock option plan and outlines the exercise price and term for recipients.
BTU Metals (OTCQB:BTUMF) announced Kinross will begin a two‑phase 2026 drill program on the Dixie Halo property beginning around Feb 20, 2026. Kinross aims to complete enough work to earn a 70% interest in the project this year, with a ~6,000–8,000m total program.
Phase One targets the TNT area (~3,000–4,000m in ~8 holes) to test strike and plunge extensions of gold and copper mineralization; Phase Two will follow after results review and target western Dixie Halo stratigraphy.
BTU Metals (OTCQB:BTUMF) has begun grid construction and a geophysical program at its Dixie East property, ~5 km east of the Kinross-explored Dixie Halo, to refine drill targets ahead of planned 2026 drilling across three Ontario gold projects. The company says it is fully funded for the work programs and will provide regular updates as it advances its geological model.
The Dixie East claims cover ~10 km of east-trending geology with features analogous to the LP Fault-hosted Great Bear system; historical drilling is limited and >25 years old.