Vancouver, B.C. July 24, 2025 – TheNewswire - Bathurst Metals Corp. (“Bathurst” or the “Company”) is pleased to announce the submission to the Ministry of Mines and Critical Minerals, British Colombia of an additional diamond drilling permit application to cover new electromagnetic anomalies coincident with anomalous gold and multi-element in soil anomalies. Bathurst currently has a drill permit in place, however due to the greater extent of untested, coincident geophysical and geochemical anomalies identified in 2024, a new permit application is required to cover all identified target areas.
KEY POINTS on Permit Application.
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New permit area covers same structural/geochemical and geological settings as current permit.
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Application covers over two (2) additional kilometres along strike.
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Bathurst has now identified over eight (8) target areas ready for drill testing.
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Targets are near-surface, with the proposed drill holes averaging between100-150m in depth.
PROPERTY GEOLOGICAL SETTING
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Property has similar lithological and structural setting to the Bralorne Mining Camp.
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Anomalous soil geochemistry close to listwanite-altered ultramafics.
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Higher and more extensive gold in soil values where interpretated, brittle-ductile structures cross-cut earlier, low angle, brittle thrust faults.
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Ultramafics are typically a poor host for gold deposits; however, the Company discovered potential economic gold grades in its 2024 drill program.
Lorne Warner P.Geo, Director, President of Bathurst Metals Corp., states, “Bathurst has taken a grass roots, gold project to a drilling stage. Our success in systematic exploration of the property has really paid off. We now have a better understanding of the geological and structural settings related to the gold-silver and base metal mineralization. ”
Location
The Peerless Property is situated in the historic Bralorne-Gold Bridge Mining Camp area in southwest British Columbia (Figure # 1). It has excellent all-season access to its center. Access can be had by following Highway 40 east from the hamlet of Gold Bridge 10.5 km to the Tyaughton Lake turn-off and following the Tyaughton Lake access road within 200m of the Peerless showings at the center of the property.
Figure #1- Regional Location Map
As indicated in Figure # 2, the Company’s Peerless Claims are near known gold mining occurrences with new discoveries continuing to be found in the same lithological and structural geological settings as the mines. Anomalous gold in soil geochemistry, as displayed in Figure # 2, infers a strong special relationship to the thrusts related to the ultramafics with a northeast trend.
Figure # 2 – Goldbridge Area Compilation Map
Figure # 3 – Compilation Map outlining electromagnetic anomalies trending east-west with similar orientation to the Peerless- Beta-Alpha Zone brittle-ductile east-west structure. Anomalous soil geochemistry outlines at least two definitive trends. The north-east trend appears to be related to the brittle deformation by the thrust faults. The more east-west trends are thought to be related to brittle-ductile structures. Both structures are mineralized, higher gold concentrations are anticipated to occur where these structures cross.
Figure # 4 Outlines the new permit area application as well as the Company’s existing permit. The map also presents the anomalous gold in soil geochemistry and recently outlined electro-magnetic structural features.
Figure # 5 Outlines the new permit area under application and provides the current road network existing on the property which indicates the company has excellent access with potentially only minor trail construction required to drill test target areas.
Figure # 5 New Application Area with Existing Roads/Trails
The Company is pleased to announce it has closed the first tranche of its previously announced private placement. The Company issued 2,516,667 Units at a price of $0.075 per Unit for gross proceeds of $188,750. Each unit consists of one (1) common share and one (1) common share purchase warrant of the Company. Each whole share purchase warrant entitles the holder, on exercise, to purchase an additional common share of the Company at a price of $0.15 per share for a period of two years from closing. Finders’ fees of 7% cash were paid on a portion of this tranche.
The securities issued are subject to a four-month hold period. Proceeds of the private placement will be used for working capital.
Qualified Person
Mr. Lorne Warner, P.Geo., is a "Qualified Person" as defined by National Instrument 43-101 and has approved the scientific and technical information included in this news release for dissemination.
On behalf of the Board of Directors
Bathurst Metals Corp.
For more information contact Harold Forzley, Chief Executive Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.
604-783-4273
Neither 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.
About Bathurst Metals Corp.
Bathurst Metals Corp. is an exploration-stage company engaged in the acquisition, exploration, and development of mineral properties in Nunavut and British Columbia, Canada. The Company holds a 100% interest in the Turner Lake, TED, McGregor Lake, Speers Lake, Gela Lake and McAvoy Lake Projects in Nunavut and the Peerless Property a gold /silver prospect in the historic Bralorne Camp in British Columbia.
