Vancouver, B.C. – December 3, 2024 – TheNewswire – Bolt Metals Corp. (“Bolt” or the “Company”) (CSE: BOLT) (FRANKFURT: A3D8AK) (OTCQB: PCRCF) a mineral exploration company focused in identifying and developing copper and other critical mineral deposits, is pleased to provide an overview of its Soap Gulch project, Montana, USA.

Located within Silver Bow and Madison Counties, 32-kilometres south of Butte, Montana, Soap Gulch is comprised of 216 Federal Unpatented Lode Claims that total over 4,320 acres. The various claims comprising the Property have over 10,000 metres of historical drilling, including by majors such as BHP, Cominco, Homestake, Phelps Dodge and Rio Tinto. Significant drill and trench results include1:

• 1.2% copper, 0.036% cobalt, and 200 ppb gold over 11.7 metres of massive sulfides in DH WCC‑4; 

• 0.15% to 0.3% cobalt and up to 1.14% copper over 96.3 metres in DH K-1 (note, only 1 ft was assayed for every 10 ft); 

• 19.0% zinc over 0.7 metres in DH M-1;  

• 19.8% zinc over 0.4 metres in DH 79-1; and  

• Up to 4.7% copper, 0.07% cobalt, and 2.3 g/t gold in trenches advanced by BHP-Utah 

The land package is underlain by Proterozoic meta-sedimentary rocks with SEDEX style mineralization that is interpreted to be age-equivalent and part of the same Belt Supergroup that includes the world-class, past-producing Sullivan Mine in British Columbia.

The Sullivan Mine was a prolific underground mine that operated for nearly a century, from 1909 to 2001. During this time, it became one of the largest underground mines in Canada, producing a remarkable 160 million tonnes of ore, resulting in 8 million tonnes of lead, 7 million tonnes of zinc, and 285 million ounces of silver. This immense output solidified its place as a cornerstone of the mining industry and a significant contributor to the economy of North America2.

The Company’s plan over the coming months is to build on the geophysical work completed through further mapping and interpretation, sampling, and other techniques in order to launch a comprehensive drill program with the goal of completing a maiden resource at one or more areas.

Laying the Groundwork for American Resource Independence

Copper, and other strategic minerals are vital to the future of the U.S., enabling advancements in green energy, infrastructure modernization, and defense. Bolt Metals’ focus on uncovering and developing untapped domestic resources is a critical step in building a supply chain that supports America’s industrial and strategic goals.

Montana's history is deeply intertwined with copper. The discovery of rich copper deposits in Butte in the late 19th century transformed the state, giving rise to the Anaconda Copper Mining Company, a giant that dominated the industry and shaped Montana's economy and politics for decades. The town of Butte, once known as "the Richest Hill on Earth", boomed as miners flocked to extract vast quantities of copper from the earth. While the Anaconda Company's reign ended in the mid-20th century, copper mining continues to play a role in Montana's story, with new projects navigating the complex balance between economic development and environmental responsibility.

Today, Sandfire Resources' Black Butte Copper Project near White Sulphur Springs represents a new chapter in Montana's copper mining history. This underground mine is designed with modern technology and aims to minimize environmental impact while contributing to the state's economy. Looking ahead, Bolt Metals' Soap Gulch Project holds the promise of further contributing to Montana's copper endowment through utilization of innovative exploration techniques to responsibly access the valuable potential. These projects demonstrate Montana's commitment to both economic growth and environmental stewardship in its ongoing copper mining endeavors.

Divestiture

The Company has entered into a Conditional Share Purchase Agreement (“CSPA”) to sell its wholly owned Hong Kong subsidiary, Minerals Harvest Limited (“MHL”). MHL holds a 65% interest in PT Tablasufa Nickel Mining, an Indonesian company which controls the Cyclops nickel-cobalt property in Indonesia, the mining license for which was cancelled in January 2022. Pursuant to the CSPA, the Company receives USD$50,000 on signing, an additional USD$200,000 subject to certain conditions and forgiveness of USD$250,000 previously advanced to Bolt Metals by the purchaser.  

Qualified person

Mr. Garry Clark, P. Geo., a member of the Company's Board of Directors, a "Qualified Person" under NI 43-101, has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

1 Information in this press release is based on the January 3, 2019, NI 43-101 Technical report for the Soap Gulch Property, Silver Bow County & Madison County, Montana, USA authored by Dean Besserer B.Sc., P. Geol. Until the original historic data has been recovered and/or archived drill core can be re-logged, photographed and sampled, the historic intercepts should not be relied upon. The company has not completed any quality assurance program or applied quality control measures to the historical data.

2 https://en.wikipedia.org/wiki/Sullivan_Mine

About Bolt Metals Corp.

Bolt Metals Corp. is a North American mineral acquisition and exploration company focused on the development of quality critical metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Bolt’s portfolio of strategic properties provides target-rich diversification including Soap Gulch, a copper SEDEX project in Montana, and Switchback, a copper-silver project located in British Columbia. Bolt trades on the CSE Exchange under the symbol BOLT, the OTCQB Exchange under the symbol PCRFC and in Germany under the WKN A3D8AK.

Bolt Metals Corp.

Branden Haynes – Director and CEO
(604) 817-1595
info@boltmetals.com

Reader Advisory

This news release may contain statements which constitute “forward‐looking information”. The words “may”, “potential”, “should”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, and similar expressions, are intended to identify such forward‐looking statements. Such statements include, without limitation, statements regarding the Company’s exploration plan over the coming months. Investors are cautioned that any such forward‐looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward‐looking statements. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

The Canadian Securities Exchange has not approved or disapproved this news release.