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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 (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.
BTU Metals (OTCQB:BTUMF) reported 2025 highlights and funded exploration plans for 2026 across four Ontario gold projects. Kinross completed 8,200 m of drilling at Dixie Halo and plans to earn 70% of the property after committing to spend a total of $4.7M under the earn-in agreement. Kinross returned visible gold and assays including 2.65 g/t Au over 0.75 m plus other anomalous intervals.
BTU will perform geophysics and line cutting at Dixie East (permit application pending) and is permitted for initial drilling at the Hubcap project. Prospecting on Echum returned grab/sample highs up to 20 g/t Au, 65 g/t Ag and 1290 ppm Cu, with further work planned in mid-late 2026.
BTU Metals (TSXV:BTU / OTCQB:BTUMF) closed an oversubscribed flow-through private placement on Nov 24, 2025 issuing 17,700,000 FT shares at $0.05 for gross proceeds of $885,000. Each FT share includes one-half warrant, resulting in 8,850,000 warrants exercisable at $0.09 for 12 months. The company paid $58,450 in cash finders' fees plus 1,106,000 finder warrants exercisable at $0.05 for 12 months. Securities are subject to TSX Venture Exchange approval and a statutory hold period of four months plus one day. The FT shares qualify under income tax rules for Canadian flow-through treatment to fund Ontario exploration projects.
BTU (OTC:BTUMF) announced a non‑brokered private placement of up to 12,000,000 flow‑through shares at $0.05 per share for gross proceeds of up to $600,000 on November 11, 2025. Each FT unit includes one common share issued as flow‑through and one‑half warrant; whole warrants exercise at $0.09 for 12 months. Proceeds will advance BTU's Ontario projects including the newly acquired Dixie East. Closing is subject to TSX Venture Exchange approval; issued securities carry a statutory hold of four months plus one day.
BTU Metals (OTC:BTUMF) announced approval to acquire a 100% interest in the Dixie East Project on October 27, 2025. The property covers nearly 10 kilometres of east-trending structural trends immediately east of Kinross Gold's Great Bear Dixie Project and sits about 4.5 km east of BTU-held royalties.
BTU describes the area as virtually unexplored for LP Fault-style gold mineralization, with no drilling in over 30 years. Geological indicators cited include felsic tuffs, sericite schists, quartz feldspar porphyry units, shearing, quartz veining, and sulphide mineralization. Initial reconnaissance and a comprehensive geological model are planned to begin in the coming weeks.