BTU Metals Corp. Comments on Proposed Kinross-Great Bear Resources Transaction
VANCOUVER, Dec. 9, 2021 - BTU Metals Corp. ("BTU" or the "Company") (TSXV:BTU) (OTCQB:BTUMF), in reference to yesterday's news of Kinross Gold Corp. agreeing to acquire all of Great Bear Resources Ltd., congratulates the entire team at Great Bear. Management has done great work on their Dixie Gold project in the Red Lake camp, Ontario. Their efforts have been ground-breaking, and its efforts have clearly benefitted all stakeholders. BTU continues to explore for gold across its ~230km2 property that shares a 35km common boundary with Great Bear Resources Ltd. ("Great Bear").
Fig 1 Map showing BTU >35 km common border with Great Bear Resources
Paul Wood, CEO of BTU states "The proposed acquisition of Great Bear by Kinross for approximately $1.8 billion follows Barrick's announcements of transactions with Dixie Gold and Red Lake Gold, adjacent or proximal to the BTU Dixie Halo property. Clearly the tier one producers are recognizing the tremendous prospectivity for gold mineralization and gold production potential in the underexplored parts of the Red Lake area. We have just completed 10 holes on widely spaced targets, the core is being logged and samples will be sent to the lab shortly. Drilling will resume in the new year at both the Pakwash North (TNT) project and at Dixie Halo".
BTU Metals Corp. is a junior, mining exploration company focused on its Dixie Halo project located in Red Lake, Ontario.
Bruce Durham, P. Geo., a qualified person as defined by National Instrument 43-101 has reviewed and approved the technical information in this press release.
ON BEHALF OF THE BOARD
"Paul Wood"
Paul Wood, CEO, Director
pwood@btumetals.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andreas Curkovic, Investor Relations
+1 416-577-9927
BTU Metals Corp.
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: BTU Metals Corp.