BCM Resources Acquires New Drilling Permit for Thompson Knolls Porphyry Copper Exploration Project in West-Central Utah and Closes Option Agreement with Inland Explorations Ltd.
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FOR IMMEDIATE RELEASE
October 12, 2018
BCM Resources Acquires New Drilling Permit for Thompson Knolls Porphyry Copper Exploration
Project in West-Central Utah and Closes Option Agreement with Inland Explorations Ltd.
Vancouver, BC, October 12, 2018 - BCM Resources Corporation (TSX-V: B), the “Company” is pleased to
announce that BCM’s partner Inland Explorations Ltd. (“Inland”) has received a new permit from the
United States Department of Interior- Bureau of Land Management and the State of Utah Trust Lands
Administration authorizing the drilling of an additional 3 holes on the Thompson Knolls (“TK”) project in
Millard County, Utah, 210 Km southwest of the Bingham Canyon porphyry copper-molybdenum-gold
mine of Rio Tinto. This gives Inland the right to complete a total of 5 drill-holes in the core of the
Porphyry target area at TK. One hole, TK18-1, has been partially completed to date, which was
terminated early, in copper-silver mineralized quartz monzonite porphyry (“QMP”), due to problems
drilling through a post-mineral fault zone.
Drill-hole TK18-1 intersected a porphyry copper mineralized body of QMP with locally strong quartz-
sericite alteration and locally abundant pyrite and lesser oxide copper mineralization. This is suggestive
of a “phyllic shell” lying peripheral to- or above the mineralized core zone of a porphyry copper system
(“PCS”). The 3 new permitted drill-holes target the interpreted core of the PCS, south and southwest of
hole TK18-1, at 500 m spacing from hole TK18-1. These holes should test the interpreted PCS, and will
be drilled to sufficient depths, using reverse-circulation pre-collar holes, followed up by HQ core at
depth in each hole.
Subsequent to permitting of the 3 new holes, additional field work by the Company led to the discovery
of float of altered limerocks to the north of the permitted holes, and another piece of float rock of
brown, limonitic, jasperoidally altered limestone was found even further to the north on the TK
property. These rocks often are associated with Carlin-style gold occurrences, such as at the Kings
Canyon gold deposit, located 7 km northeast of hole TK18-1 and the SE Target at TK, located 2.8 km
southeast of TK18-1.
The new Northern Target area alteration could be possibly related to alteration by a second plutonic
igneous system north of the PCS being tested. Inclusions of earlier granitic and lamprophyre intrusive
rocks were found in the QMP in TK18-1. The overall target area for porphyry-related mineralization at TK
is now more than 5 Km in length.
Option Agreement Closes
The Company has closed the previously announced option agreement with Inland Explorations Ltd., for
an option to acquire up to 60% interest in Inland's drill-ready Thompson Knolls Property ("TK Property")
located in central Utah's Great Basin, one of the premier metallogenic provinces in the world. See the
Company’s News Release dated March 8, 2018. The TK Property is located in Millard County, Utah and
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consists of 125 federal unpatented mineral claims and two State Section Leases, comprising 3,465 acres
(1,402 ha).
Under the terms of the agreement, BCM has the option to earn a 51% interest within 4 years by
incurring total property expenditures of C$3.5 million, issuing to Inland a total of 2.6 million shares in
the Company, and making total cash payments of C$250,000, as well as posting any required exploration
bonds and paying all annual property and permit related expenses. Fifty thousand dollars (C$50,000)
and 450,000 shares was due on Closing with the balance of property expenditures, cash and share
payments staged over a four-year period. In accordance with these terms BCM has issued the shares
and cash consideration effective Sept. 28, 2018.
Upon BCM earning a 51% interest, the Company shall have the option to increase its interest in the TK
Property by an additional 9% to 60% by spending an additional $5M on the TK Property and delivering a
pre-feasibility level study on the property with 2 years. As announced March 8, 2018 the transaction has
received approval by the TSX Venture Exchange. For further information see BCM’s news releases dated
July 27, 2015, September 2, 2015, February 9, 2016 and April 24, 2017.
The Company’s Vice President, Exploration, Mr. Richard R. Redfern, M.Sc. and Certified Professional
Geologist, a 'qualified person' for the purposes of National Instrument 43-101, has verified and
approved the technical information contained in this news release.
About BCM Resources Corporation
BCM Resources Corporation is a diversified Canadian mineral exploration company focused on
identifying, acquiring, advancing, and joint venturing prospective Copper, Gold, and Molybdenum
exploration projects in British Columbia and Utah. BCM Resources is managed by experienced and
successful board members and advisors. For further information, including area maps, sections, and
photos, please visit our web site at www.bcmresources.com or contact us by e-mail at
On Behalf of the Board of Directors:
Dale McClanaghan,
President and Chief Executive Officer
For further information please contact:
Investor Relations,
Telephone: 1 (604) 646-0144, ext. 223
www.bcmresources.com
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Caution Concerning Forward-Looking Statements
This news release and related texts and images on BCM Resource Corporation’s website contain certain
"forward-looking statements" including, but not limited to, statements relating to interpretation of
mineralization potential, drilling and assay results, future exploration work, and the anticipated results
of this work. Forward-looking statements are statements that are not historical facts and are subject to
a variety of risks and uncertainties which could cause actual events or results to differ materially from
those reflected in the forward-looking statements, including, without limitation: risks related to
fluctuations in metals prices; uncertainties related to raising sufficient financing to fund the planned
work in a timely manner and on acceptable terms; changes in planned work resulting from weather,
logistical, technical, governmental, social, or other factors; the possibility that results of work will not
fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved
in the interpretation of sampling and drilling results and other tests; the possibility that required permits
and access agreements may not be obtained in a timely manner; risk of accidents, equipment
breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in these work programs.
Forward-looking statements contained in this release are based on the beliefs, estimates, and opinions
of management on the date the statements are made. There can be no assurance that such statements
will prove accurate. Actual results may differ materially from those anticipated or projected. BCM
Resources Corporation undertakes no obligation to update these forward-looking statements if
management's beliefs, estimates, opinions, or other factors, should change.
This news release and the information contained herein does not constitute an offer of securities for sale
in the United States and securities may not be offered or sold in the United States absent registration or
exemption from registration.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.