Bolt Metals Completes Induced Polarization Survey at the Northwind Property
Bolt Metals Completes Induced Polarization Survey at the Northwind Property
Vancouver, British Columbia / October 23, 2025 – Bolt Metals Corp. (“Bolt” or
the “Company”) (TSXV: BOLT) (OTC: PCRCF) (FSE: A3D8AK), a North American mineral
acquisition and exploration company, is pleased to announce that the Company has completed
ground IP surveys in five geophysical high potential zones identified by a historical heliborne
TDEM survey at its Northwind property.
Induced Polarization (IP) surveys were conducted over promising target zones, which were
initially identified as anomalies from heliborne TDEM surveys (Fig. 1). These IP surveys covered
11.125 line-km across five separate grids, utilizing 20 survey lines spaced 200 metres apart with a
dipole-dipole electrode array.
Analysis of the collected geophysical data revealed eight primary IP axes, indicating distinct
polarizable anomalies spread across the five surveyed grids. These findings generally correlate
with low resistivity conductors. Some anomalies are also associat ed with or located near
electromagnetic (EM) conductors, which were highlighted by a heliborne MAG -EM survey
conducted in 2017. Additionally, some of these anomalies show a relationship with weak to
moderate magnetic (MAG) anomalies.
This specific IP-RES signature suggests the presence of disseminated to sulfide -rich
mineralization. This mineralization could be remobilized along faults or wide shear zones, or it
might be hosted within altered beds or horizons that were conducive to the upwelling of
hydrothermal fluids. All of these characteristics indicate favorable targets for gold mineralization.
The chargeability anomalies have been grouped into what are termed polarizable axes, with eight
such anomalies delineated after reviewing the IP data. The most promising targets were identified
within IPG-1, IPG-3, and IPG-4. Based on these results, drill targets will be proposed to confirm
the mineral potential of these IP anomalies.
Fig-1: The IP Surveys Ground Model of Apparent Chargeability at 80 m of V ertical Depth in
Northwind Property
The Northwind property comprises a package of 53 claims, covering approximately 2,986 ha of
ground, in the marginal zone of the Urban -Barry greenstone belt of the Abitibi geological
subprovince of Quebec. The claims are strategically located proximal to numerous showings and
several regionally significant discoveries, including the Windfall gold deposit, and is situated only
15 km from the Northwind claims.
Readers are cautioned that the geology of nearby properties is not necessarily indicative of the
geology of the Property.
The bedrock geology of the Northwind claims is dominated by east -west striking packages of
diorite, pegmatitic granite+tonalite and gneissic tonalite, with a lesser portion of basalt mapped in
the northeast quadrant. The claims are bound to the south and southwest by a volcano-sedimentary
terrane that hosts several notable gold deposits.
Zac Kotowych, CEO of the Company, commented: “Gold prices have recently witnessed a historic
surge, reaching an unprecedented all-time high of approximately US$4,381 per ounce earlier this
week. This monumental increase, driven by sustained central bank accumulation, ongoing
geopolitical uncertainties, and heightened global inflationary pressures, substantially enhances the
projected economic viability and strategic importance of gold exploration assets worldwide,
including Bolt’s Northwinds project.”
The Company believes that the Northwinds Gold Deposit is poised to potentially benefit from this
elevated commodity pricing environment.
• Increased Project Economics: A higher gold price lowers the effective cut-off grade and
improves the economics of potential future gold discoveries or resource definition,
maximizing the value per ounce of gold.
• Strategic Positioning: The current market environment validates the Company’s focus on
high-potential, drill-ready mineral properties. The Northwinds property, which features
multiple shear zones and high-priority exploration targets identified through previous
work, now represents a significantly more compelling opportunity for a potential
discovery.
• Catalyst for Exploration: The Company believes that a strong gold market may create
ideal conditions for securing investment and financing. Bolt is planning a comprehensive
program at its Northwinds property in 2026.
The Company also announced that it has entered into a non-binding letter of intent with Max Iron
Brazil Ltd. to acquire an option to earn a 100% interest in a iron property in Brazil (the
“Property”). Under the proposed terms, Bolt will pay USD$200,000 to Jaguar Mining Inc. on
behalf of Max Iron Brazil Ltda. (“Max Brazil”), keep the property in good standing, and issue an
aggregate of 26,200,000 common shares to Max Brazil and 6,094,679 common shares to Max
Resource Corp. over a 30-month period.
The Property, located in Brazil and originally held under mineral right 832.022/2018, covers a
district-scale land position within the Iron Quadrangle, a prolific mining region historically known
for its high-grade gold and base-metal production and existing mining infrastructure. Completion
of the transaction remains subject to satisfactory due diligence, definitive documentation, and
applicable regulatory approvals.
The Company is also pleased to announce to announce a non-brokered private placement of up to
$1,500,000 units of the Company (the "Units" and each, a "Unit") at a price of $0.20 per Unit (the
"Private Placement"). Each Unit shall consist of one common share in the capital of the Company
(a "Share") and one Share purchase warrant (a " Warrant"), whereby each Warrant shall be
exercisable at $0.40 into an additional Share for a period of 36 months from the date of issuance.
Proceeds from the sale of the Units will be used for general working capital purposes. Closing of
the Private Placement, subject to the receipt of all necessary regulatory and other approvals. All
securities issued pursuant to the Private Placement will be subject to a statutory hold period under
applicable Canadian securities laws of four months and one day from the date of closing of the
Private Placement. In addition to the Private Placement, the Company also announced a non -
brokered private placement of up to 2,565,000 units of the Company (each, a “Life Unit”) at a
price of $0.20 per Life Unit for gross proceeds of up to $513,000 (the “Offering”). Each Life Unit
will consist of one common share in the capital of the Company (a “Life Unit Share”) to be issued
pursuant to Part 5A (the “Listed Issuer Financing Exemption”) of National Instrument 45-106 –
Prospectus Exemptions (“NI 45-106”), and one Common Share purchase warrant (a “ Life
Warrant”) of the Company to be issued under the “accredited investor” exemption or any other
applicable exemptions from any prospectus requirements as contained in NI 45-106. Each Life
Warrant will entitle the holder thereof to acquire one common share of the Company (a “ Life
Warrant Share”) at a price per Life Warrant Share of $0.40 for a period of 24 months from the
date of issuance. The Warrants will be exercisable 60 days following the closing date of the
Offering. The Company is also pleased to announce that it has entered into debt settlement
agreements (the “Settlement Agreements”) to settle outstanding debts owed to certain arm’s
length creditors (the “Creditors”) totaling an aggregate of $328,250 (the “Debt Settlement”).
Pursuant to the Settlement Agreements, the Company has agreed to issue an aggregate of 1,641,250
common shares (“Debt Shares”) at a deemed price of $0.20 per Debt Share. The Company will
seek shareholder consent pursuant to CSE Policy 4, as the Private Placement, Offering and Debt
Settlement will result in the Company issuing more than 100% of the currently issued and
outstanding common shares.
Qualified person
The technical content of this news release has been reviewed and approved by Mr. Babak V akili
Azar, P .Geo. (EGBC#62313, OGQ#10876), a qualified person as defined by National Instrument
43-101. Historical reports provided by the optionor were reviewed by the qualified person. The
information provided has not been verified and is being treated as historic.
About Bolt Metals Corp.
Bolt Metals Corp. is a North American mineral acquisition and exploration company focused on
the development of quality precious and base metal properties that are drill-ready with high-upside
and expansion potential. Bolt trades on the CSE Exchange under the symbol BOLT, the OTC under
the symbol PCRFC and in Germany under the WKN A3D8AK.
BOLT METALS CORP.
Zac Kotowych, CEO and Director
For more information, please email [email protected] or visit www.boltmetals.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release includes "forward-looking statements" under applicable Canadian securities
legislation. Such forward-looking information reflects management's current beliefs and is based
on a number of estimates and/or assumptions made by and information currently available to the
Company that, while considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors that may cause the actual results and future events to differ
materially from those expressed or implied by suc h forward-looking statements. Readers are
cautioned that such forward-looking statements are neither promises nor guarantees and are
subject to known and unknown risks and uncertainties including, but not limited to, general
business, economic, competitive, political and social uncertainties, uncertain and volatile equity
and capital markets, lack of available capital, actual results of exploration activities,
environmental risks, future prices of base and other metals, operating risks, accidents, labour
issues, delays in obtaining governmental approvals and permits, and other risks in the mining
industry.
The Company is presently an exploration stage company. Exploration is highly speculative in
nature, involves many risks, requires substantial expenditures, and may not result in the discovery
of mineral deposits that can be mined profitably. Furthermore, the Company currently has no
reserves on any of its properties. As a result, there can be no assurance that such forward-looking
statements will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such statements.