Route 109 Resources Stock Price, News & Analysis

Route 109 Resources Inc. (OTCQB: MRIRF) is a junior Canadian mining exploration company focused on gold and base metal projects in Quebec, Canada. According to company disclosures, its primary objective is to acquire, explore, and develop viable gold and base metal projects in what it describes as a mining-friendly jurisdiction. The company’s activities are centered on two 100%-owned properties located in the prolific Abitibi greenstone belt: the King Tut Project and the Dunlop Bay Project.

Core business and exploration focus

Route 109 Resources describes itself as an exploration-stage company. Its business model is based on identifying and advancing mineral projects with potential for economic gold and base metal deposits. The company reports that it is fully focused on its interest in the King Tut and Dunlop Bay projects, both situated in the Abitibi greenstone belt of Quebec. This belt is referenced in multiple company news releases as a prolific mining district.

The company states that the King Tut Project consists of 120 contiguous claims covering 5,206 hectares. The Dunlop Bay Project consists of 76 mineral claims covering 4,226 hectares. Both projects are repeatedly highlighted in Route 109’s news releases as the central focus of its exploration programs.

Dunlop Bay Project and mineralization styles

Recent Route 109 news releases describe extensive exploration work at the Dunlop Bay property, including drilling programs and geophysical surveys. The company reports that Dunlop Bay hosts multiple target areas, including Dunlop Bay West, Dunlop Bay North, the Clairet Zone, and the Marcelle-Edith trend. These areas are associated with different mineralization styles, including:

• Cu-Au-Mo-Ag mineralized zones at Dunlop Bay West, where the company has reported intersections of semi-massive to disseminated sulfides containing copper, gold, molybdenum, and silver.
• VMS-related (Volcanic Massive Sulphide) base metal enrichment at Dunlop Bay North and the Clairet Zone, with zinc, lead, and silver mineralization described in drilling results.
• Gold showings associated with the Marcelle-Edith trend and trench NW-2, where the company has previously reported significant surface gold assays.

In a 2025 drilling update, Route 109 states that results from its winter drilling program at Dunlop Bay confirm the presence of a Au-Cu-Mo porphyry-style mineralized system related to the Dunlop Bay intrusion. The company notes that this style of mineralization is atypical for the Matagami region and compares certain characteristics to porphyry systems described in technical references for the Abitibi belt in Quebec. The company also reports that mineralization in the Dunlop block is interpreted to be genetically related to a porphyry system and aligned along a north–south trend that remains largely untested by drilling.

King Tut Project

In its corporate descriptions, Route 109 identifies the King Tut Project as one of its two principal assets. The project consists of 120 contiguous claims over 5,206 hectares in the Abitibi greenstone belt. While the detailed technical results for King Tut are not included in the provided news releases, the company repeatedly lists King Tut alongside Dunlop Bay as a key focus of its exploration plans and as a core component of its strategy to acquire, explore, and develop gold and base metal projects in Quebec.

Exploration methods and technical work

Route 109’s news releases describe a range of exploration activities at Dunlop Bay, including diamond drilling, trenching, soil geochemistry, and geophysical surveys. The company reports that it has used:

• Winter drill programs targeting both VMS and gold mineralization, with planned meterage in the thousands of meters.
• Electromagnetic borehole surveys to model conductive plates associated with potential VMS-style mineralization.
• Reinterpretation of historical VTEM survey data using Maxwell modeling to define electromagnetic plate targets.
• Reconnaissance geochemical soil surveys using methods such as Ionic Leach and Aqua Regia to identify geochemically anomalous areas and refine drill targeting.
• Integration of LIDAR and magnetic (MAG) data to map lineaments and interpreted mineralized trends.

The company notes that these methods have helped identify high-priority gold and VMS drill targets, particularly near the Edith zone and along underexplored parts of the Dunlop Bay property. Route 109 also reports that it has engaged Laurentia Exploration of Saguenay, Quebec, to manage aspects of its drilling programs, core logging, and sample selection for geochemical analysis.

Corporate history and name change

Route 109 Resources Inc. is the new name of the entity previously known as BMEX Gold Inc. In an October 2024 news release, the company announced that it would change its name from BMEX Gold Inc. to Route 109 Resources Inc., with the name change becoming effective on October 4, 2024. At the same time, the company’s TSX Venture Exchange trading symbol changed from “BMEX” to “RTE.” The company stated that the name change did not affect shareholder rights and that existing share certificates and other securities remained valid.

Prior to the name change, BMEX Gold Inc. described itself in substantially the same way as Route 109 does now: a junior Canadian mining exploration company focused on acquiring, exploring, and developing viable gold and base metal projects in Quebec, with full focus on its 100% interest in the King Tut and Dunlop Bay projects in the Abitibi greenstone belt.

Capital markets and listings

According to multiple company news releases, Route 109 common shares trade under the symbol “RTE” on the TSX Venture Exchange and under the symbol “8M0” on the Frankfurt Exchange. The U.S. trading symbol “MRIRF” is referenced in the provided data as the OTCQB symbol associated with Route 109 Resources Inc. The company has also disclosed financing activities, including non-brokered private placements, flow-through and non-flow-through units, and share consolidations, as part of its capital management.

In March 2024, while still operating under the BMEX Gold Inc. name, the company announced a ten-for-one share consolidation. A subsequent news release stated that the consolidation became effective on March 22, 2024, and provided updated CUSIP and ISIN numbers for the post-consolidation shares. Later in 2024, the company announced a non-brokered private placement financing and disclosed that an insider participated in the offering, relying on specific exemptions under Multilateral Instrument 61-101.

Project jurisdiction and regulatory framework

The company emphasizes that its projects are located in Quebec, Canada, which it describes as a mining-friendly jurisdiction. Its technical disclosures reference Canadian National Instrument 43-101 (NI 43-101) standards. The company states that an independent Qualified Person, as defined by NI 43-101, has reviewed and approved geological information in its technical news releases. These releases also note that historical information on the properties has not been fully verified, but is considered indicative of exploration potential.

Company scale and status

Based on its own descriptions, Route 109 Resources Inc. is a junior exploration company rather than a producing miner. Its news releases focus on exploration results, drill programs, soil sampling, geophysical interpretations, and financing activities. There is no indication in the provided information that the company has transitioned to commercial production on its projects. The absence of SEC filings in the supplied data is consistent with a Canadian-listed junior exploration company whose primary regulatory filings would typically be made in Canada.

Key focus areas for investors and observers

For those researching MRIRF / Route 109 Resources Inc., the company’s own disclosures highlight several recurring themes:

• Exclusive focus on two 100%-owned projects (King Tut and Dunlop Bay) in the Abitibi greenstone belt.
• Exploration for both gold and base metals, including copper, zinc, lead, silver, and molybdenum.
• Identification of both VMS-style and porphyry-style mineralization at Dunlop Bay, with particular emphasis on Cu-Au-Mo-Ag systems that are described as atypical for the immediate Matagami region.
• Use of integrated geophysics, soil geochemistry, and drilling to refine targets and test historical showings.
• Ongoing corporate actions such as share consolidations, private placements, and a corporate name and symbol change from BMEX Gold Inc. (BMEX) to Route 109 Resources Inc. (RTE).

FAQs about Route 109 Resources Inc. (MRIRF)