BTU Acquires Property East of Great Bear's World Class Dixie Gold Deposit and Their New Strider Gold Discovery
Rhea-AI Summary
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.
Positive
- Option to acquire 100% of 49 Dixie East Block 2 claims
- Property located 30 km east of Great Bear Dixie gold project
- 2,450-acre land package expands Dixie East project footprint
- Low-cost option terms: $78,000 cash over four years
- Equity component limited to 400,000 shares issued over four years
- Claims positioned along interpreted regional gold-bearing structural corridor
Negative
- Transaction remains subject to TSXV approval
- Issuance of 400,000 shares introduces incremental shareholder dilution risk
News Market Reaction – BTUMF
In the May 13 session, BTUMF declined 6.53%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / May 13, 2026 / BTU METALS CORP. ("BTU" or the "Company") (TSX-V:BTU)(OTCQB:BTUMF) is pleased to announce it has signed an option to acquire a
New Property Acquisition Highlights:
Strategic Land Expansion in Tier-1 Red Lake District: Option to acquire a
100% interest in the Dixie East Block 2 claims, located approximately 30 km east of the Great Bear Dixie Project, further consolidating the Company's position near Canada's newest World Class gold discovery.District-Scale Upside Along Prospective Mineral Corridor: Newly acquired claims are underexplored and situated within the interpreted location of the same generally east trending structural corridor that hosts gold and base metal mineralization regionally, enhancing the broader exploration potential of the Dixie East Project and supporting a district-scale growth strategy.
Recent Research Initiatives Identified Deep Regional Structures: cutting through the area, these structures include the host for gold at the Great Bear deposit - the LP fault - The actual data supporting the location of the LP (lithoprobe) structure was collected along Highway 105 roughly halfway between the Great Bear Gold Deposit and the Dixie East area.1
New scientific research: has determined the age of the Great Bear main gold mineralizing event to be much younger than the enclosing host rocks, highlighting the strong association of structure and the gold mineralization. The study also highlights the association of gold mineralization with highly deformed felsic intrusive rocks similar to those found in some historic drill holes in the Dixie East area.
Kinross Discovers New Gold Mineralization: recently disclosed high grade gold results up to 215.4 g/t gold over 2.1 metres at a location called Strider, 2.4 kilometres east of the Viggo gold area and planned open pit, indicating the Great Bear gold mineralization is more extensive than previously known.2
Low-Cost Option with Strong Leverage to Discovery: BTU can earn
100% interest in the property through modest staged payments totalling$78,000 and issuing 400,000 shares to the vendor over four years, thereby providing cost-effective exposure to exploration upside with minimal near-term financial burden.
Figure 1: Dixie East Project Regional Map
Paul Wood, CEO, commented: "We're very pleased to expand our total footprint in the Dixie East area with the acquisition of this prospective land package, a strategic addition that strengthens the long-term potential of our existing Dixie East project. This move positions us to unlock new opportunities for growth, value creation, and sustained success in an increasingly dynamic gold market.
Terms of the Dixie East Transaction
To acquire
Qualified Person
Bruce Durham, P. Geo., VP Exploration of the Company is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this press release.
About BTU
BTU Metals Corp. is a junior mining exploration company. BTU's primary assets are the Dixie Halo Project located in Red Lake, Ontario (optioned to Kinross) immediately adjacent to the Kinross Great Bear Project and its gold and critical minerals properties in the active Wawa gold district. The Company continues to look to acquire high quality exploration projects to add to its portfolio for the benefit of its stakeholders. The Company has no debt and minimal property obligations.
References
1 Red Lake Lithoprobe Cross-Section, Zeng & Calvert, 2006.
2 Kinross News Release - "Kinross reports strong 2025 first-quarter results" Link
ON BEHALF OF THE BOARD
"Paul Wood"
Paul Wood, CEO, Director
pwood@btumetals.com
BTU Metals Corp.
Telephone: 1-604-683-3995
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company is forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions, plans and future actions of the Company.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: risks relating to the global economic climate; dilution; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. The Company has also assumed that no significant events occur outside of the normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
SOURCE: BTU Metals Corp.
View the original press release on ACCESS Newswire