BCM Resources Corporation Announces Update on Drill Plans and Option Agreement for Thompson Knolls Project
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FOR IMMEDIATE RELEASE
March 8, 2018
BCM Resources Corporation Announces Update on Drill Plans and Option Agreement for
Thompson Knolls Project
Vancouver, BC - BCM Resources Corporation (TSX-V: B), the “Company” is pleased to announce
that the Utah Department of Oil Gas and Mining (“DOGM”) has approved the Company’s drill pad/hole
locations and road plans for the Thompson Knolls Cu-Au Porphyry exploration project located in
Western Utah. Two initial diamond drill holes are planned, approximately 1,350 metres apart. Each drill
hole will be vertical and drilled to a target depth of 900 metres.
As previously announced, the Company has entered into an option agreement with Inland Explorations
Ltd., a BC headquartered non-reporting Issuer, ("Inland"), 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. The TK Property is located in Millard County, Utah
and 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 shall be due on Closing with the balance of property expenditures, cash and share
payments staged over a four year period.
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.
The proposed transaction has received approval by the TSX Venture Exchange (the “Exchange”) and
completion of a formal Option Agreement reflecting detailed terms is underway, with Closing expected
on or before April 30th, 2018.
Inland Explorations Ltd. ("Inland"), a non-reporting issuer, is related to the Company by way of two
common directors, all of whom hold shares in Inland and are officers of both companies.
About BCM Resources Corporation
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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 [email protected].
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
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.
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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.