BTU Acquires Two Extensive Gold Properties in the Active Wawa Gold District; The Echum Gold Project Adjacent to Alamos Gold and The Hubcap Gold Project Adjacent to Red Pine Exploration

VANCOUVER, BC / ACCESSWIRE / May 7, 2024 / BTU METALS CORP. ("BTU" or the "Company") (TSXC:BTU)(OTCQB:BTUMF) announces it has entered into a purchase and sale agreement pursuant to which the Company will purchase, upon closing, a 100% interest in two large gold exploration projects in the active Wawa gold area of northern Ontario; the Echum Gold Project adjacent to Alamos Gold Inc. (TSX-AGI) and the Hubcap Gold Project adjacent to Red Pine Exploration Inc. (RPX-TSX:V).

Each of the projects covers areas of historic gold mineralization and neither project has been the subject of significant or comprehensive exploration in recent years. The Echum property is adjacent along trend of the Alamos Gold Inc. ("Alamos") Island Gold Mine property and the Hubcap property is adjacent along the geological trend of the gold mineralization being drill tested extensively by Red Pine Exploration Inc. ("Red Pine").

Figure 1: Map showing the Echum and Hubcap properties and Their Location in Relation to the Properties of Red Pine and Alamos

Foto: Accesswire

Asset and Area Highlights

• Each project is adjacent to an active, large scale gold exploration/development project
• Both projects host historic gold mineralization^[1]
• Echum, the northern property, covers the extension of geological host rocks that occur on the adjacent Alamos Island Gold Mine property
• Hubcap, the southern property, just southeast of the town of Wawa covers the extension of the geological trends on the Red Pine property, starting approximately 1200m from their historic Darwin Grace gold mine
• The Hubcap project includes the historic Centennial Gold Mine where underground mine work was last undertaken in the 1930's
• The properties, to be purchased 100%, have no ongoing or contingent payments, and are subject only to net smelter royalties of not more than 2% (on the majority of the claims the royalty can be reduced to not more than 1%)
• Only two drill holes have been drilled on the entire property position in the past 6 years
• Existing data sets and work by neighbouring companies will allow the Company to quickly vector in on the best exploration targets
• Both projects have excellent proximity to infrastructure - roads, highways (including Trans Canada Highway), town of Wawa, airport, water, power, mining aware population and mining labour pool
• No work commitments other than ongoing assessment work requirements with the Ontario government
• The properties cover more than 750 mining claims over a total of 16,048 hectares
• Alamos has acquired other exploration/development projects in the area over the past 2 years and also purchased a 19.9% interest in Red Pine in late 2019

[1] Mineralization on neighboring projects are not indicative of mineralization on the Echum Gold Project or the Hubcap Gold Project