BTU Metals Corp. Announces Significant Expansion of Red Lake Position Through Acquisition of Burgundy Exploration Corp.
Suite 1240, 789 West Pender St. Vancouver, British Columbia
Phone: 604-683-3995/ Toll Free: 888-945-4770/Fax: 604-683-3988
BTU METALS CORP. ANNOUNCES SIGNIFICANT EXPANSION OF RED LAKE
POSITION THROUGH ACQUISITION OF BURGUNDY EXPLORATION CORP.
November 23, 2018, Red Lake, ON, Canada – BTU METALS CORP. (“BTU” or the “Company”)
(BTU-TSXV) is pleased to announce that it will acquire an additional 4,163 hectares of prospective and
geographically targeted mineral claims in the emerging Dixie discovery area of Red Lake through the
acquisition of Burgundy Exploration Corp. (the “Burgundy Acquisition”).
“Thanks to our geological and geophysical teams, I believe we are in a unique position of adding to
GBR's district success of building a new and exciting gold district. It now appears that with our new
hinge-offset geological and geophysical model, we could be looking at extending on GBR's 10 km
Dixie structure by an additional 10 kms owing to our new acquisition. We view today’s acquisition of
further greenstone exposure as significant for our shareholders, especially given a newly revealed
gold showing identified by our company’s recent data compilation and digitization efforts,” noted Mr.
Doug Hunter, Director of the Company.
Under the terms of the transaction, the Company will acquire 100% of the shares of Burgundy
Exploration Corp., from arm’s-length vendors, in exchange for 3.6 million shares, 1.8 million shares
which are to be issued upon closing and 1.8 million to be issued on the first anniversary of closing. A
pre-existing 2% GSR is applicable on the tenure being acquired under the Burgundy Acquisition. There
are no cash payments associated with the Burgundy Acquisition nor is there any mandated work
expenditures outside normal government assessment reporting obligations, which are next due on the
newly acquired property in the second -half of 2020. Closing of the transaction is subject to TSXV
approval. No finder’s fees are payable.
The additional mineral claims to be acquired through the Burgundy Acquisition will be referred to as
the Dixie Halo Southwest Extension (see maps associated with this news release) , and furthers t he
“hinge-offset” exploration model developed by BTU Metals by an additional 5 km to the SW. The
Company’s exploration team is currently being guided by results from the Fugro HELITEM airborne
electromagnetic (EM) and magnetics survey on Dixie Halo that highlights an interpreted fault around
which a “hinge offset” to the south and then west on the Company’s properties appears.
The Company is also pleased to announce that Mr. Alan King has been retained to further analyze the
Fugro report in order to identify new t rends and targets. This will be supplemented by work results
which have revealed three areas of gold showings that will be followed up on. Among other experience,
Mr. King has held posts as Manager of Geophysics at Teck Cominco with responsibility for glob al
exploration as well as Chief Geophysicist for Vale Global Exploration working on geophysical
applications as well as target generation using regional and global data sets.
Since acquiring the Dixie Halo properties this fall, BTU Metal’s geological team has been actively
advancing the project, including:
• Site visits to prospect and sample; and
• Desk reviews and digitization of assessment files; and
• Announced past resident geologist, Tony Pryslak to the BTU Advisory Board; and
• Initiated a 43-101 technical report; and
• Completed 600 line kilometers of drone surveys to assist with further prospecting; and
• Submission of samples to lab with assays pending.
Full prospect map available at http://www.btumetals.com/a/btu_dixie_prospects.pdf
*Mineralization hosted on adjacent properties is not necessarily indicative of the mineralization hosted on the Company’s
properties.
The technical contents of this release were approved by Douglas Hunter, P .Geo-QP, as defined by
National Instrument 43 -101. The property has not been the subject of a National Instrument 43 -101
report, and Mr. Hunter has not verified the technical data dis closed in this release due to the historic
nature of reports quoted.
ON BEHALF OF THE BOARD
“Paul Wood”
Paul Wood, CEO, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
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 Ven ture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events
or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements
reflect management’s current beliefs and are based on assumptions made by and information currently available to the
Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are
subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -
looking statements a re made as of the date hereof and, except as required under applicable securities legislation, the
Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-
looking statements made in this press release are qualified by these cautionary statements and by those made in our filings
with SEDAR in Canada (available at WWW.SEDAR.COM).