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BTU Expands Dixie East Project with Strategic Block 3 Acquisition Adjacent to Kinross Great Bear Project
VANCOUVER, BC / ACCESS Newswire / June 3, 2026 /BTU METALS CORP. ("BTU" or the "Company") (TSX.V:BTU)(OTCQB:BTUMF) is pleased to announce it has entered into a definitive agreement to acquire a 100% interest in the Dixie East Block 3 Project (the ...
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VANCOUVER, BC / ACCESS Newswire / June 3, 2026 / BTU METALS CORP. ("BTU" or the "Company") (TSX.V:BTU)(OTCQB:BTUMF) is pleased to announce it has entered into a definitive agreement to acquire a 100% interest in the Dixie East Block 3 Project (the "Project" or the "Property"), located approximately 6 kilometres east of the Kinross-owned Great Bear Project in the eastern part of the Red Lake District, Ontario. The newly acquired claim package is directly adjacent to the Kinross and BTU Dixie Halo Project and further augments the Company's strategic land position in one of Canada's most active and prospective gold exploration districts. The new acquisition brings the Company's total Dixie East Project strike coverage to approximately 17 kilometres (Figure 1). The Dixie East Block 3 claims strengthen the Company's district-scale exploration footprint surrounding the multi-million-ounce Great Bear gold deposit being advanced toward production by Kinross as well as the easterly extent of their recently announced high-grade Strider gold discovery. Dixie East Block 3 Acquisition Highlights: "The acquisition of Block 3 represents another important step in BTU's strategy of building a district-scale land position east of the Great Bear Project," stated Paul Wood, Chief Executive Officer of BTU. "With approximately 17 kilometres of cumulative strike coverage now controlled across the Dixie East trend, we believe the project offers significant long-term exploration potential within one of the most prolific new gold discovery areas in Canada. The proximity to Kinross' Great Bear Project and their recently announced high grade Strider gold discovery further reinforces our conviction in the broader regional structural corridor and its potential to host new areas of significant gold mineralization." Terms of the Transaction Pursuant to the definitive purchase agreement, the Company will acquire 100% interest in the Block 3 claim group through the issuance of an aggregate total of 800,000 common shares of the Company, a cash payment of $16,000 plus a 1.5% NSR, with the right for BTU to buy back a 0.5% interest at any time for $500,000, to the arm's length vendors. This transaction is subject to approval from the TSXV. The shares issued will be subject to normal course trading restrict...