Category: News

Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to report new drill targets generated from the 2024 field program at the HWY 37 Project in the Golden Triangle, British Columbia. 

SIX NEW DRILL TARGETS:

1. Williams Porphyry Cu-Au Target

• IP survey outlines and refines a chargeability anomaly (> 25 mV/V) measuring 2200 m by 1500 m to depths of over 1000 m and up to 212 mV/V below and lateral to the Williams deposit.
• The anomaly is host to open-ended intercepts such as up to 0.33% Cu and 0.39 g/t Au over 347 m including 0.56 % Cu and 0.69 g/t Au over 127 m.

• Proposed drill tests will explore the chargeability anomaly to identify more upper-level stocks where grade is closely tied to porphyry host and to test deeper levels with potential for elevated Cu in bornite.

2. Lower Hank Porphyry Cu-Au Target

• Lower Hank porphyry target anomaly measures 1600 m by 800 m greater than 35 mV/V to a depth of 850 m with peak values of 86 mV/V with the closest historical drill hole returning 342 m of 0.33 g/t Au and 3.9 g/t Ag.
• Proposed drill tests will focus on source porphyry intrusions within the chargeable body, known to be associated with rapid grade change at the nearby Williams deposit.

3. Upper Hank Porphyry Cu-Au Target

• Upper Hank porphyry target anomaly measures 1500 m by 800 m greater than 35 mV/V to a depth of 850 m with peak values of 129 mV/V with high-grade epithermal mineralization at Pit deposit up to 20 m of 11.63 g/t Au and 13.8 g/t Ag located above anomaly.

• Evidence for telescoped system where epithermal gold superimposed on porphyry Cu-Au in close vertical proximity.
• Proposed drilling at the Upper Hank anomaly will test the projection of epithermal gold systems (intermediate and high sulfidation) at surface into the porphyry target at depth.

4. ME Porphyry Cu-Au Target

• First-ever IP survey of the broad Cu-Au-Ag-Mo anomaly at ME outlines anomalous chargeability (>24 mV/V) across full length of line focused on mapped porphyry target.

• Proposed drill tests will focus on the largest at-surface subvertical anomaly to target porphyry Cu-Au, and a second at-surface low angle anomaly associated with Au-Pb-Zn anomalism as a vein target.

5. Mary Porphyry Cu-Au Target

• A new 3D inversion product of coupled historical and new IP provide high resolution of a largely untested chargeability anomaly below Mary deposit that swells from 350 m to 750 m across at depth where relogging indicates a very high porphyry level of historical drilling, with only a single deeper test that failed to cross peak chargeability.

• Proposed drilling at Mary is designed to test the open-ended northern deposit, cross over a historical intercept within anomaly (0.31 g/t Au, 0.13% Cu over 208 m, BC07-10), and drill deeper levels of peak chargeability never before tested.

• On trend with Mary, the DM porphyry target intercepts are at apex of chargeability anomaly where higher relative copper:gold intercepts are associated with bornite.

• Proposed drill test at DM aims to step 250 m to south of open-ended, from-surface intercepts (0.21% Cu, 0.28 g/t Au over 223 m, BC06-03) and test large chargeability anomaly below for a porphyry root zone.

6. Cliff Porphyry Cu-Au Target

• New large 700 m wide and 1 km deep (> 25 mV/V) Mary-like chargeability anomaly projects to surface mineralization at Cliff porphyry now interpreted as the core target for Cliff porphyry, where flanking-type intercepts (Cu-Mo, low Au) drilled into flanks of chargeable body.

• The new Cliff target area can be easily tested 350 m to NE of previous drill tests in flat alpine terrain.

Dustin Perry, CEO states “We are incredibly pleased with our first IP survey results on the HWY 37 Project. The survey highlighted the best porphyry drill target I have seen in my career at the open Williams deposit. Williams was discovered in 2017 and has only seen 6,095 m of drilling despite returning grades comparable to significant deposits in the Golden Triangle. Previous IP surveys there outlined a broad chargeability anomaly, but survey lines were run subparallel to the trend of mineralization which limited targeting capabilities due to a lack of contrast. The new survey line is orthogonal to historical lines and when integrated into a new 3D inversion highlights the potential for significant expansion. Historical drill holes bottomed in mineralization and demonstrated potential for excellent porphyry grades with sub intervals including 127 m of 0.56% Cu and 0.69 g/t Au. Intercepts contain chalcopyrite greater than bornite and we interpret that grades have potential for improvement as bornite becomes the dominant sulfide mineral. The new IP chargeability anomaly represents the potential for discovering multiple Williams-like shallow stocks as well as a larger intrusive body at depth.

The porphyry targets we have outlined at Lower and Upper Hank are stand-alone drill targets. They overlap with both disseminated bulk tonnage and high-grade structurally hosted Au-Ag mineralization. Mapping and spectral studies in the area have outlined a strong case for telescoped porphyry-epithermal systems which leads to the possibility of abrupt and often rapid changes from the epithermal domain to porphyry Cu-Au mineralization. Given the size and cluster of anomalies at the Hank-Williams area coupled with mineralization styles, we believe there is potential to host a cluster of porphyry Cu-Au systems comparable to the Cadia area in NSW, Australia.

The single reconnaissance line we completed at the ME target reaffirmed our belief that it represents a poorly tested porphyry Cu-Au target. Historical drilling there was done from the base of slope with limited and incomplete assays in an area we interpret the drill site as too deep and laterally far from the historical stockwork showing. Mapping this year outlined trends of porphyry stockwork with Cu-Au-Ag-Mo mineralization. Observations at the base of slope at ME and the base of slope at the large Goat gossan to the NE indicate the presence of a flanking alteration character to a large NE trending porphyry system. The single IP line returned high chargeability values across the full length of the line which represents drill ready targets for 2025.

Further, a single IP line was completed at the Mary Deposit to better understand the orientation of the system, and to cover the Cliff and DM targets.  Along trend to the north of Mary, rock sampling returned 0.42% Cu and 0.97 g/t Au from an untested stockwork body. Drill core review at Mary showed previously unrecognized syn-mineral intrusions comparable to those identified at Williams, and at DM showed the presence of bornite stringers. These observations along with the new IP survey led us to believe that there is significant potential for discovery to the north along this trend. The IP survey at Cliff outlined a large chargeability anomaly that trends into the slope and is essentially untested by the three shallow drill holes completed there to date.

The targets generated from this program represent a pipeline of top-notch porphyry Cu-Au drill targets in one of the most geologically prospective and active mining jurisdictions in the First World.”  

Summary of IP and Geological Mapping Programs

The 2024 field program at the HWY 37 and LGM projects was primarily focused on defining drill targets for the 2025 field season. Four IP geophysical lines (Figure 1) were completed on the HWY 37 project and totalled 14.14-line km. This data was then integrated with historical data to provide new 3D inversions at the Mary and Hank-Williams trends. 

Mapping at HWY 37 was focused on better understanding the alteration and controls on grade at the Mary and Hank-Williams trends and at the ME Target. Between 2023 and 2024, 501 samples have been selected for spectral analysis that will be completed and interpreted over the coming months prior to the 2025 field season. This data will complement the preexisting spectral data that exists in the Hank-Williams Trend. 

Limited work was completed on the LGM Project as targets are relatively early stage compared to HWY 37. A single day of mapping at the Grizzly target was completed and led the Company to believe that additional mapping will need to be completed in 2025 prior to drill targeting. Grizzly represents the top of a structurally-controlled alkalic porphyry Cu-Au system.   

Williams Porphyry Cu-Au New Target

The Williams porphyry Cu-Au system, which was discovered in 2017 with the initial drill hole returning 377 m of 0.31 g/t Au and 0.28% Cu (Figure 2, 3), was the focus of a new IP survey line. The deposit drill footprint of 500 m long by 400 m wide and 500-600 m deep is within a 2.2 km long and 1.5 km wide and 1 km deep chargeable body (>25 mV/V) with values up to 212 mV/V identified by the new survey. Intercepts at Williams coincide with potassic-altered monzonite porphyry intrusion that extend to surface with abrupt grade change between intrusive host and the volcanic rocks (Figure 4). The Williams deposit is largely hosted in one structurally focused intrusion within a chargeability anomaly that is prospective to host numerous such bodies.

The historical IP survey lines at Williams were oriented NE, subparallel to the overall trend of chargeability, alteration and grade, and did not cross and capture the NE-trending character of deposit. The 2018 survey successfully identified a chargeability anomaly on two sections to the south (50 m and 350 m south of nearest drill hole), yet subsequent drilling in 2019 focused on conservative step-outs from Williams and failed to assess new chargeability results. The new Williams IP line, oriented NW, was deemed necessary in order to: fingerprint the Williams deposit, determine the width of the chargeability anomaly, add resolution to the Williams deposit area, increase depth visualization, and determine the extent of two alteration trends to the SE (the Upper Hank Trend, and a new alteration trend at southern extent of survey). The 2018 and the 2024 IP results were combined into a new 3D inversion product for targeting (e.g., Figure 4 and 5).

The 2024 results from the Williams line were successful in fingerprinting the deposit and outlining a chargeability anomaly that extends from surface to 1 km depth with a width of 1.5 km (Figure 4). The overall anomaly is ENE elongate, and is on strike with the Lower Hank Trend (Figure 3). Lateral growth potential of the copper-gold target is also indicated by new mapping that identified outcrop exposures of disseminated and vein hosted chalcopyrite and copper oxides in Hank Creek ~400 m south of this survey line including 0.23% Cu, 0.20 g/t Au, and 9.5 g/t Ag. The new survey also allowed for deeper visualization of the Wiliams deposit roots, where untested peak chargeability values were identified.

The survey results indicate a large target domain that includes two target types: 1) shallow or at-surface focused porphyry intrusions and breccia bodies, and 2) deeper-level intrusive-hosted stockwork.

The upper-level porphyry target area includes domains to the north and south of the Williams deposit and are interpreted as structurally-controlled, Williams-like stocks, such as 127 m of 0.56% Cu, 0.69 g/t Au, and 3.4 g/t Ag (HNK-18-13). This relatively shallow target domain extends from surface to depths of ~400 m and conceptualizes grade focused within multiple Williams-like porphyry stocks and breccia bodies. Grade at these upper levels is characterized by a very close association with intrusions (Figure 4) – copper and gold grades increase from background levels rapidly into the intrusions. The upper chargeable anomaly is interpreted to result from a complex of several such porphyry stocks within volcanic rocks, not the drilled extent of the Williams stock alone.

The deeper target domain spans 1 km wide and includes the peak chargeability values (212 mV/V) where there is potential for more broad, intrusive-hosted stockwork (Figure 4). From regional examples, highest relative copper grades are associated with bornite typically intercepted at deeper levels where higher temperature conditions exist. The geometry of chargeability supports this exploration concept with a marked chargeable high close to surface in volcanic rocks (pyrite>chalcopyrite), a muted mid-level response in mixed intrusions and volcanic rocks (chalcopyrite>pyrite), and a broadening root zone where bornite>chalcopyrite is conceptualized in an intrusive host (Figure 7). Given the grade at Williams and the significant scale of the anomaly, this target area has been elevated to a top priority for drilling in 2025.

Lower Hank Porphyry Cu-Au Target

A new 3D IP inversion product from coupled historical and new lines revealed a 1.6 km long by 0.8 km wide and 850 m deep anomaly (>35 mV/V) – the Lower Hank Porphyry target. The geometry of the chargeability body aligns with mapped quartz-sericite-pyrite-chlorite (phyllic and propylitic alteration) on surface (Figure 3). The anomaly is focused at shallow levels and broadens at depth, similar to the Williams chargeability anomaly. At the apex of the anomaly, historical holes intercepted high-grade gold, such as hole HNK-17-001 with 95 g/t Au, 1100 g/t Ag over 0.58 m. Deeper drilled extents that correlate with the uppermost levels of the anomaly intersect porphyry-style broad gold, such as hole HNK-17-006 with 0.44 Au Eq. over 341.7 m (Figure 5). Initial drill holes above this anomaly have only intersected volcanic rocks, and have not yet discovered the key porphyry intrusion that host mineralization at Williams. An outcrop to the southeast of the drilled area contains stockwork and disseminated style mineralization more typical in porphyry type systems (rock here returned 0.37% Cu, 0.44 g/t Au).

The top of the Williams porphyry deposit is less than 300 m vertically below epithermal gold systems at Pit and the “Boiling Zone” and at the same elevation as Au-Ag-Pb-Zn veins along the Lower Hank Trend. The presence of close vertical emplacement levels for epithermal and porphyry systems indicates a process of telescoping. This has two important exploration implications for the area: 1) new potential for porphyry targets at relative shallow levels below surface, and 2) the presence and overlap of high-grade structural gold within porphyry target domains.  

Although historically a high-grade gold target, the new chargeability anomaly at the Lower Hank Porphyry target represents high potential for porphyry discovery due to: 1) the presence of overlap of epithermal gold veins (telescoping) onto porphyry systems at same elevations, 2) the target is on trend and at the same elevation as the Williams deposit, 3) a transition from structurally-controlled gold at shallow levels into broad, disseminated gold at depth typical of porphyry systems, and 4) potential for rapid grade change into mineralizing porphyry intrusions not yet discovered at this anomaly.

The furthest south IP line (Figure 6) was oriented NW as a 1 km step-out from the previously completed Hank IP survey. This line crosses the southern alteration extension of the Lower Hank Porphyry Cu-Au target and stretches SE to the Rojo Grande lithocap. The results obtained from this line indicate that highly anomalous chargeability exists south of the porphyry Cu-Au targets identified by the Company.  Chargeability values up to 37 mV/V coalesce at depth to form a broad (>2 km) zone beneath Jurassic basin cover. The basin cover is of exploration interest as it defines the Triassic-Jurassic unconformity (“red line”) where relatively unaltered rocks drape and conceal prospective units. The basin contains clasts of petrified wood indicating it formed in a subaerial setting at the paleosurface. The basin also contains oxidized gossan clasts of the Rojo Grande lithocap, indicating that it formed shortly after the mineralizing event. Historical drilling south-southwest of the surveyed line has returned anomalous gold grades that bottom in mineralization including 123 m of 0.34 g/t Au, 110 m of 0.36 g/t Au, and 74 m of 0.43 g/t Au.  

Chargeability values directly under the Rojo Grande lithocap show a strong sub-vertical pattern, that may reflect a fluid flow pathway and provide a targeting vector. Given that this line was completed as a 1 km step out, more IP surveys will be required to determine if this area represents a distal response of the upper and lower Hank porphyry Cu-Au targets or a unique standalone porphyry target.

Upper Hank Porphyry Cu-Au Target

Similar to the Lower Hank Porphyry Cu-Au Target (Figure 2, 3, 5), a new 3D IP inversion product from coupled historical and new lines revealed a 1.5 km long by 0.8 km wide and 850 m deep (>35 mV/V) anomaly – the Upper Hank Porphyry target. The chargeability body lies below a mapped lithocap, indicative of porphyry tops, and below the Pit deposit where historical drilling outlined bed parallel epithermal gold horizon returning 20 m of 11.63 g/t Au and 13.8 g/t Ag and 63 m of 1.86 g/t Au.   

The Upper Hank chargeability anomaly expanded from a >550 m strike length to a 1.5 km strike length, comparable to the Williams deposit chargeability anomaly. The original chargeability anomaly was identified in 2016, prior to the discovery of the nearby Williams porphyry. The initial survey visualized the anomaly accurately with NW survey lines (Figure 3), yet the anomaly remained open-ended to the north. The presence of broad gold mineralization such as 0.17 g/t Au over 128 m (hole H93-4) within lithocap-type alteration upslope of the Pit deposit is strong evidence for the presence of a large-scale porphyry target. The Company interprets the Pit deposit and the lithocap as two high-level gold targets from surface with a projection toward a Williams-like target. The new survey line was deemed critical to capture the full strike extent of this important anomaly for drill targeting.

Three target domains exist at the Upper Hank: 1) the projection of at-surface, bed parallel epithermal gold mineralization at the Pit deposit (intermediate sulfidation); 2) disseminated gold-rich or gold-only target from surface in the area of the lithocap above the anomaly (high sulfidation); and 3) intrusive-hosted porphyry Cu-Au in upper-level stocks from ~350 m drill depths below at-surface gold targets. The Upper Hank Porphyry target provides a unique opportunity to drill both high-grade gold targets and porphyry Cu-Au targets with a single hole.

The Williams IP line spans 5.8 km from uphill and west of the Williams deposit across the Upper Hank Trend and southeast across the adjacent valley where new alteration was mapped in 2024 and anomalous chargeability was identified (Figure 4).  This area is interpreted to represent a new potential porphyry-epithermal trend subparallel to the Hank-Williams Trend. At the eastern end of the Williams line, no historical IP surveys or drilling had been completed. New mapping of this grassroots area in 2023-2024 outlined areas of strong argillic and quartz-sericite-pyrite-carbonate alteration that coincide with the new anomaly (Figure 4). This area also coincides with highly anomalous stream sediment values along trend up to 313 ppm Cu and 1015 ppb Au.  Given the close proximity to epithermal gold and porphyry Cu-Au deposits, this region will be a high priority area in 2025 for additional IP surveys, geological mapping, and sampling.  

Hank-Williams Summary

The broader Hank-Williams area represents a decades old gold exploration camp that broke the mold with the discovery of the Williams Cu-Au porphyry deposit in 2017. This discovery places the gold systems in a new context – high-grade gold emplaced at comparable levels as the earlier porphyry stocks. This new perspective, coupled with the refinement of three porphyry-scale chargeability bodies allows for a new targeting opportunity in a region of highly productive world-class porphyry systems. The new interpretation opens the potential to drill porphyry targets from surface at Williams and at relatively shallow depths at the Lower Hank Porphyry target, and to drill epithermal gold from surface into the porphyry targets at depths of ~300 m at the Upper Hank Porphyry target.

Given the high-level nature of porphyry Cu-Au mineralization intersected to date, Williams and the two Hank porphyry targets appear to represent the tops of porphyry systems that have potential for significant increases in both grade and size at depth.  Compared with regional deposits of note (Figure 7), the evidence is compelling to explore the full vertical potential of these targets. 

Detailed drill core photo review shows that the Williams deposit has many similarities with regional and global examples of gold-rich porphyry Cu-Au deposits such as Red Chris, Cadia, and North Parkes (Figure 8). The Company notes that mineralization at the other projects noted in the following figures is not indicative of mineralization hosted on the HWY 37 Project. 

ME Porphyry Cu-Au Target

The ME porphyry Cu-Au target (Figure 9) is situated at the south end of the Mary trend and was the focus of a first-ever IP line. The area is host to NE-striking porphyry stocks that trend towards the prominent Goat gossan. Mineralization in the area is related to porphyry quartz stockwork with chalcopyrite-pyrite-molybdenite and increasing concentrations of galena, associated with a flanking porphyry position, to the north and northeast away from the IP chargeability anomalies defined in 2024. The ME Target is host to an open-ended soil geochemical anomaly (Cu-Au-Ag-Mo-Pb) that stretches over 3.5 km with grades up to 2900 ppm Cu, 3210 ppb Au, 36,500 ppb Ag, and 750 ppm Mo.

The 2024 IP reconnaissance line (Figure 10) was run on a prominent bench on the upper edge of the broad soil anomaly. The decision was made to run the single line across this location due to ease of completing the survey in a short time frame within the context of a limited IP budget. Future IP surveys should be competed to extend the current line to the NE as well as running orthogonal lines that will require line cutting. Rocks at the surface on the surveyed bench are predominantly pyritic hornfels but 10s of meters downslope of this topographic bench mineralized porphyry intrusions are identified that project to the section line.  

The IP survey returned anomalous chargeability values (>24 mV/V) along the full length of the 2 km line with two distinct chargeability bodies with values up to 49 mV/V. The Company believes that these anomalies represent the projection of intrusive-hosted mineralization beneath hornfels cover.

Two historical drill holes were completed downslope of the 2024 IP anomalies in 1980. Incomplete assays are available for these holes with reports of grades up to 0.16% Cu. These drill holes were completed prior to the 2019 geochemical soil survey that outlined the broad anomaly. Mapping in 2024 indicates that these drill holes were misoriented, were located laterally far away from the interpreted core, and are too far downslope of the mapped stockwork on surface. Consistent with this, historical drill logs identified widespread sodic alteration, common in deeper flanking positions to Cu-Au porphyry systems.  These holes were located over 500 m from the chargeability targets identified in 2024. 

Mary Porphyry Cu-Au New Targets

The drill footprint of the Mary area spans 3 km focused along a north-northeast trend defined by the Cliff target, Mary deposit and the DM porphyry (Figure 11). Drilling at Mary began in the 1970s from surface mineralization and the first modern 2D induced-polarization survey was completed in 2012 with NWW-trending orientation (Figure 11, 12). Most holes at Mary test relatively shallow depths (300-400 m), but the first deep hole was planned following the first IP survey to drill toward the highest chargeability value that had been defined to date. This hole, BC12-47, intercepted 455 m of 0.11% Cu and 0.28 g/t Au until it cut a late, relatively unaltered monzonite dyke and terminated in volcanic rocks with 39 m of 0.4 g/t Au Eq* (Figure 12).

The 2024 survey aimed to improve resolution along the NNE axis of mineralization and extend IP coverage to the Cliff porphyry. The previous 2D sections resulted in poor coverage and low confidence in geometry of a significant chargeability anomaly identified at Mary.

The results of the new survey indicate a largely untested subvertical chargeability anomaly below Mary that swells from ~350 m width near surface to 750 m width at depth (>25 mV/V). The vertical orientation of hole BC12-47 into a structurally controlled system failed to test the porphyry at depth and failed to cross peak chargeability values. The late intrusion intercepted in the hole is interpreted to have a steep geometry (narrow width) and is not considered to be the cause of the chargeability anomaly. This hole failed to reach the core of the chargeability anomaly, located to the south, did not intercept source intrusions below Mary and failed to explain the source of the deep chargeability anomaly.

The chargeability anomaly below Mary is interpreted as a significant untested porphyry target. At the Williams deposit, grade is closely tied to both chargeability and to the distribution of structurally focused porphyry intrusions. The presence of significant grade in volcanic rocks at depth is interpreted to indicate proximity to the porphyry intrusion body below Mary. Hole BC07-10 provides evidence for such a target, where 102 m of 0.53 g/t Au and 0.22% Cu in a porphyry host are intersected in peak chargeability values at depth (Figure 12).

Along trend ~850 m from Mary, significant lateral and vertical expansion potential at the DM porphyry is also indicated. The DM porphyry is characterized by higher Cu:Au ratios compared to Mary, such as 0.21% Cu and 0.28 g/t Au over 223 m from surface. The chargeability anomaly appears to plunge from the DM porphyry at surface toward Mary, to the SW. Based on the chargeability anomaly, the DM porphyry is interpreted to have significant vertical extent beyond the ~230 m drilled extent. Off the IP section line, the presence of stockwork with 0.42% Cu and 0.97 g/t Au also indicates lateral, or width, potential (Figure 12).

Cliff Porphyry Cu-Au Target

The Cliff porphyry lies on the flanks of a new chargeability anomaly 700 m wide and 1 km deep ( > 25 mV/V) identified in the 2024 survey, similar in geometry and calibre to the anomaly centered on the Mary deposit (Figure 12). Alteration patterns, intrusive geometry and quartz stockwork abundance trends indicate a projection of the porphyry system into the slope, to the NE. Only three holes have tested the Cliff porphyry, returning up to 0.11% Cu, 66 ppm Mo over 116. The geometry of the chargeability anomaly indicates a large untested body to the NE, and the presence of high relative Mo, and low relative Au in these initial holes is consistent with the interpretation that the drilled domain is lateral to and flanking a porphyry target into the slope. 

Future Drill Program Planning

Planning has begun for a 2025 drill program that will test the porphyry Cu-Au drill targets generated over the last year.  Drill permits are in place across all areas where drill-ready targets exist as well as on the LGM Project to the south. The Company recognizes that the HWY 37 and LGM projects lie within the traditional territory of the Tahltan First Nation and an Exploration Agreement is in place. The Company will strive to work with Tahltan affiliated contractors. A proposed drill program will be dependent on accessing additional financing and the scale of such a program is yet to be determined. 

ZTEM Update

The proposed ZTEM survey was scheduled to begin in late June to early July of this year.  Equipment issues, weather delays, and scheduling issues from the contractor pushed the survey start date to mid September.  The program was initiated but no flying was completed within the first 10 days of the survey so the Company made the decision to cancel the survey to avoid further potential standby days.  The Golden Triangle region saw an early start to winter and the region saw near constant precipitation since that time and therefore the Company believes the decision to cancel the program at that time was the correct move. 

Going forward, the Company will endeavour to complete a similar airborne electromagnetic survey at the beginning of the 2025 field season. 

Qualified Person

Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has two 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 43,201,553 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: [email protected]    

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

VANCOUVER, British Columbia, September 10, 2024 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to report the completion of its program of mapping, sampling, and IP surveys at the consolidated HWY 37 and LGM projects in the Golden Triangle, British Columbia. 

Highlights

• IP surveys were completed at the Mary-ME porphyry, and Hank-Williams porphyry-epithermal areas totalling 14.14 line km.
• Mapping was completed at the Mary, ME, Hank, Williams, Rainbow, Ridge, Goat and Grizzly targets in addition to several unnamed areas of interest. 
• The addition of porphyry-epithermal expert Dr. Stephanie Sykora to the technical advisory board.
• Historical drill core from the Mary, Rainbow, Hank, and Williams zones was reviewed.
• The planned ZTEM survey was delayed due to equipment issues and weather delays at other projects and is expected to begin at the HWY 37 project this week. 
• Machine learning with VRIFY AI is currently underway and results will be released once 2024 data is integrated into the exploration model.
• The BC Geological Survey spent a week on site as part of a porphyry research initiative that will include future age dates.

Dustin Perry, CEO states “After spending a week on site this year visiting all of the porphyry-epithermal centers on the project, I am even more encouraged by the tremendous discovery potential of this large land position in the prolific Golden Triangle, Additionally, after working with Stephanie the last two field seasons we are thrilled to have her join our advisory board. Her wealth of global experience in copper-gold systems will be a significant asset as we advance our projects in the Golden Triangle.”

Dr. Stephanie Sykora, states “After two field seasons working with Kingfisher on their HWY 37 project, I am encouraged to see the potential in their large land package, which shows various styles of mineralization in prospective terrain that hasn’t yet been fully explored. It is exciting to be part of the progress with a dynamic, young team that is discovery driven.”

Dr. Stephanie Sykora is a seasoned exploration geologist with over a decade of global experience working with major and junior companies. She has a PhD degree in Geology from the University of Tasmania (CODES), Australia where she studied the giant Lihir (Ladolam) alkalic epithermal gold deposit in Papua New Guinea, under supervision of Professor David Cooke and Dr. David Selley.

Dr. Sykora currently works as an independent consultant, and via OreQuest Consultants Ltd., with various companies in Canada, USA, Mexico and worldwide. She has held positions at First Quantum Minerals in South America, Australia, and globally for generative porphyry copper exploration, and at Teck Resources in BC, Canada in porphyry exploration at Highland Valley Copper. Her expertise includes field mapping, technical evaluations, project generation, structural geology, and porphyry-epithermal systems. Dr Sykora has published several articles in peer-reviewed scientific journals as well as various scientific communications for earth sciences.

HWY 37 Project and LGM Project Summary

The contiguous HWY 37 and LGM projects cover 630 km² within the prolific Golden Triangle and are host to porphyry, epithermal, and VMS mineralization spanning from the Late Triassic to Middle Jurassic. 

The Grizzly Cu-Au porphyry system is inferred to be the oldest at the project (Late Triassic). Previous workers identified pseudoleucite-bearing volcanic host rocks, a unique rock type also present at the world class, alkalic Galore Creek deposit (Teck/Newmont) located 50 km to the west. Historical trenching at Grizzly returned 0.74% Cu and 1.09 g/t Au over 38 m.

Texas Creek intrusions (Early Jurassic) are the most widespread at the projects with a span over 25 km in a NE to SW trend with widespread geochemical anomalies and alteration.  Mary, Williams, Rainbow, and Hank alteration systems are all related to these intrusions which also drive mineralization at the Sulphurets District (KSM, Treaty Creek, and Brucejack) and the Snip-Iskut District. The Company notes that mineralization on nearby projects or metal districts is not indicative of mineralization on the HWY 37 or LGM Projects. 

Figure 1: Regional Overview Map – HWY 37 and LGM Projects

2024 Exploration Program

The 2024 field program was designed to refine drill targets across the HWY 37 and LGM projects.  A focus was placed on new interpretations of the controls on mineralization across a broad area through detailed geological mapping by Dr. Stephanie Sykora. A total of 214 rock samples were taken by Kingfisher geologists, 296 geological field stations collected, and 14.14 line km of IP surveys were surveyed over 4 lines (Figure 2). 

The BC Geological Survey spent 7 days studying intrusions across the project area as part of a regional porphyry research initiative. Results from the 2024 exploration program will be released once they are received and interpreted.   

The ZTEM survey which was planned for earlier in the summer has been delayed due to equipment and weather issues at other nearby projects. Despite this, the survey is planned to begin this week. 

Figure 2: 2024 Exploration Program

Hank-Williams Trend

Mapping at the Hank-Williams Trend focused on improving the understanding of the structural controls to mineralization in areas prospective for drilling. Surface mapping also identified an expanded extent of hydrothermal alteration of roughly 6 x 6 km of quartz-sericite-pyrite (QSP).

Two IP lines were completed to extend coverage to the south and north of historical surveys. The southwestern line (3.2 km) is designed to test below an area concealed by young (post-gold) rocks and to characterize the Rojo Grande target. The northeastern line (5.7 km) spans the known Williams porphyry deposit, across the Hank epithermal deposit, and southeast past the limit of historical drilling for over 2.5 km.  This line is designed to outline porphyry targets below the known Hank epithermal system, to generate a fingerprint of the Williams deposit on the same line.

Figure 3: The Hank Deposit within the Hank-Williams Trend

Mary Trend

One 3.2 km IP line is designed to outline the trend of mineralization at an optimal azimuth not completed on previous surveys and provide information to drill target the Mary Root Zone and the deeper extents of the Mary deposit. The line will also include the DM porphyry to the northeast, which returned 0.28 g/t Au and 0.21% Cu over 223.3 m from 16 m depth (BC-06-03) and the Cliff porphyry to the southwest, which was drill tested with two holes in 2023 with the best intercept returning 0.11% Cu over 114 m (M-23-001).

Mapping and sampling in the area outlined a ~600 m-long zone of stockwork and sheeted veins that parallels the overall northeast to southwest trend of mineralization to the south and west of the DM Zone that has only been partially tested with historical drilling. One outcrop of chalcopyrite-bearing stockwork north of the DM zone was also visited and sampled that has not been tested by drilling. Kingfisher geologists noted bornite in historical drill core in the DM area which indicates potential for elevated relative copper for exploration targets. Bornite has not yet been identified in drill extents at the higher elevation, known Mary deposit.

Figure 4: The Mary Deposit

ME

Mapping was completed at the ME porphyry target to the south of the Mary deposit and Cliff porphyry. Two areas of porphyry stockwork were mapped, chip-channel sampling was completed, and one 2-km IP line was completed with the goal of outlining the geometry of chargeable mineralization identified on surface.  Widespread ‘quartz-sericite-pyrite’ alteration was noted across the zone with significant chalcopyrite mineralization hosted within stockwork over a ~300 m of vertical extent. 

Figure 5: The ME Zone

Rainbow

The Rainbow Zone occurs as a small outcrop with brecciated vein clasts of high-level sheeted porphyry veins. Mapping in 2024 noted that the breccia occurs with a magnetite (potassic) matrix. Previous operators drilled below the discovery hole (RN-11-01; 0.76 g/t Au over 91 m) with limited success.  

The brecciated and structurally complex nature of mineralization in the area of historical drilling provides a geological explanation for how previous operators did not reproduce the initial drill results. Drill core review confirmed this field observation. Given the presence of potassic alteration at surface associated with gold and limited surface exposures due to the presence of widespread glacial till, future exploration in 2025 should include IP surveys in addition to ground based magnetic surveys which should outline areas of magnetite-cemented breccias.   

Figure 6: The Rainbow Zone

Ridge

The Ridge Zone hosts widespread in-soil and stream sediment geochemical anomalies for Au-Ag and base metals. Two days of mapping were completed at the Ridge Zone. Mapping indicated the presence of widespread carbonate alteration similar to other targets on the project (e.g., Mary and Hank) and is potentially indicative of a high-level porphyry environment. Mapping focused on vein and pyrite densities across two drainages. Future work will be planned after interpreting ZTEM results.

Figure 7: The Ridge Zone

Grizzly

The Grizzly Zone lies in the southwestern region of the recently acquired LGM Project. Grizzly is host to copper-gold porphyry mineralization with historical trench sampling of 0.74% Cu and 1.09 g/t Au over 38 m. The Company spent one day mapping creek exposures in the vicinity of historical sampling. Preliminary mapping and 3D modeling indicate that the limited amount of historical drilling failed to cross the trend of mineralization. 

Figure 8: The Grizzly Zone

BC Geological Survey

The BC Geological Survey (BSGS) completed 7 days of fieldwork at the HWY 37 and LGM projects which consisted of sampling outcrop and drill core for the various intrusive suites associated with mineralization.  They are completing a large-scale study north of the Iskut river that includes other significant projects such as Galore Creek. Their study will include obtaining dates from a number of these samples as well as characterizing the nature of these prospective intrusions with whole rock geochemistry and petrography.  The Company wishes to thank the BCGS for their helpful insight, as well as the additional ground we were able to cover during this program. Additionally, the Company looks forward to receiving accurate U-Pb age dates from their work which will further help characterize and drill target the mineralization on the projects.

Qualified Person

Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has two 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 43,201,553 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: [email protected]    

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that it has closed the acquisition of the LGM Project from Origen Resources Inc. (“Origen”), which was previously announced on June 6, 2024. Under the terms of the definitive agreement, the Company issued 3,000,000 common shares in the capital of Kingfisher to Origen and paid C$75,000 in cash to Origen in exchange for the transfer of the LGM Project claims on closing.

The 26,771 HaLGM Project is located immediately south and contiguous with Kingfisher’s HWY 37 Project, in Northwest British Columbia within the Golden Triangle. In addition, the LGM Property is subject to underlying royalty agreements over different parts of the project that range from 1 to 2% with Triple Flag Precious Metals (1%), Ryan Kalt (2%), and Carl von Einsiedel (2%). 

LGM Project Highlights

• Expansion of contiguous holdings in the Golden Triangle from 362 km² to 630 km² including KSM-type targets in west, alkalic Galore Creek-type targets in central region (Grizzly and Lucifer) and unexplored Eskay Creek-type stratigraphy to the east.

• Grizzly Target trench sampling from 2006 returned 0.74% Cu and 1.09 g/t Au over 38 m.

• The LGM Project represents one of only three silica-undersaturated magmatic-volcanic complexes in the Golden Triangle with discovery potential for Galore Creek-type porphyry systems and has only seen 3,988 m of drilling.

• Historical stream sampling at Lucifer outlined a 4 km-long trend of highly anomalous stream sediment samples grading up to 7.8 g/t Au – similar in strength and scale to the Hank epithermal deposit signature at HWY 37.

• LGM Project is fully permitted for diamond drilling.

Qualified Person

Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has two 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 43,219,553 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: [email protected]    

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to initiate phase 1 exploration for the 2024 field season at the HWY 37, LGM, and Thibert projects in British Columbia.

Highlights

• 1253 line-km ZTEM airborne geophysical survey at HWY 37 and LGM projects starting late June
• VRIFY AI machine learning across HWY 37 and LGM projects underway
• ZTEM results will see follow-up mapping and IP surveys on priority targets at HWY 37 and LGM
• Soil and till sampling campaign at Thibert Project in June to follow up on prospectivity modeling completed over winter 2023-2024

Dustin Perry, CEO states “We are excited to get started with our 2024 field programs in northern BC. The goal of the ZTEM survey is to fingerprint the known porphyry centers at HWY 37 and LGM projects and discover new systems with the help of VRIFY AI. Following this survey, we will rate and rank targets and follow up with focused mapping and IP surveys. This will all lead into drill targeting for potential new discoveries within our large land position in the prolific Golden Triangle.”

HWY 37 Project and LGM Project Summary

The contiguous HWY 37 and LGM projects cover 630 km² within the prolific Golden Triangle and are host to porphyry, epithermal, and VMS mineralization spanning from the Late Triassic to Mid-Jurassic. 

The oldest mineralization on the combined projects belongs to the Galore Creek Suite intrusions (Late Triassic) with silica-undersaturated porphyry Cu-Au mineralization at the Grizzly Target. Galore Creek Suite intrusions are also responsible for the world-class Galore Creek deposit (Teck/Newmont) located 50 km to the west. Historical trenching at Grizzly returned 0.74% Cu and 1.09 g/t Au over 38 m.

Texas Creek intrusions (Early Jurassic) are the most widespread intrusive bodies at the project covering over 25 km accompanied by widespread geochemical anomalies and alteration. Mary, Williams, Rainbow, and Hank mineral systems are all related to these intrusive bodies which are also responsible for mineralization in the Sulphurets District (KSM, Treaty Creek, and Brucejack) and the Snip-Iskut District. The Company notes that mineralization on nearby projects or metal districts is not indicative of mineralization on the HWY 37 or LGM projects. Historical drilling on the HWY 37 Project outlined three porphyry centers and one epithermal center. 

Williams Cu-Au

The Williams porphyry deposit was discovered from 2017-2019 and is highlighted by intercepts such as 0.39 g/t Au and 0.33% Cu over 346.7 m. Williams sits adjacent to the 6 km-long Hank epithermal Au-Ag deposit and outcrops in the valley bottom with potassic alteration at surface. The increased copper to gold ratios at Williams, situated at a low elevation relative other porphyry targets in the district, demonstrates the potential for higher copper grades at depth across the project.  Williams lies within a

Mary Cu-Au

The Mary porphyry deposit is highlighted by intercepts such as 0.48 g/t Au and 0.14% Cu over 291.5 m and 0.54 g/t Au and 0.12% Cu over 430.7 m.  Drilling has outlined a mineralized trend measuring ~1300 m by 400 m and is interpreted as the upper levels of a large porphyry Cu-Au system where Au to Cu ratios are high. Mary sits within a 3 km-long IP chargeability anomaly greater than 20 mV/V and is also located within an 8 km-long geochemical anomaly.

Rainbow Cu-Au

The Rainbow Cu-Au system outcrops in an area of widespread glacial till cover draped over outcrop.  Historical drilling returned 0.76 g/t Au and 0.05 % Cu over 91 m from surface. Limited work has been done to identify the source of this mineralization or the lateral extent of the system beneath till with only 3 drill holes completed in the area. 

Hank Au-Ag

The Hank epithermal Au-Ag deposit occurs as a 6 km-long trend of epithermal alteration, mineralization, and geochemical anomalies. Historical drilling has outlined several zones of intermediate to high sulfidation epithermal mineralization ranging from lithocap alteration at the highest elevations to intermediate sulfidation mineralization closer to the valley bottom. Historical intercepts include high-grade intercepts such as 11.63 g/t Au and 13.8 g/t Ag over 20 m, 13.4 g/t Au and 132.4 g/t Ag over 9.1 m, and 133 g/t Au and 263 g/t Ag over 0.8 m. The Company believes there is significant potential to discover high-grade feeder mineralization at Hank given the majority of historical drilling was within 150 m of surface and limited to only one azimuth. Additionally, the Company believes there is potential for discovering a porphyry Cu-Au system at depth below epithermal mineralization.

ZTEM Survey

Geotech Ltd has been contracted to complete at 1253 line-km ZTEM survey over the HWY 37 Project. The airborne survey collects deep penetrating electromagnetic and magnetic data which will be used to fingerprint the known areas of mineralization and unlock buried targets across the project. ZTEM surveys have proven to be highly successful in global exploration for porphyry Cu-Au systems and epithermal Au-Ag systems, with examples including at Pebble, Cobre Panama, and Ana Paula.

VRIFY AI

Kingfisher has engaged VRIFY AI to leverage the power of advanced machine learning models to analyze and identify potential mineral targets at the HWY 37 and LGM projects in northwestern British Columbia’s prolific Golden Triangle. Through the use of public and proprietary data sets, VRIFY AI utilizes sophisticated machine learning classifiers to create 3D models of potential mineral targets, incorporating probabilistic values to assess the accuracy of these models. This innovative approach enhances the precision of geological targeting, enabling exploration teams to instantly access and apply machine learning as needed. This allows for more intentional and accurate drilling of known mineral targets while prioritizing exploration targets and discovering previously unidentified mineral prospects. The AI tool ensures unbiased geological targeting and subjective data interpretation, accelerating exploration processes and improving the accuracy of mineral system identification.

Data collected during the Phase 1 exploration program will be continuously fed into the machine learning models leading to improved drill targeting.

IP Surveys and Geological Mapping

Focused exploration work including deep penetrating IP geophysics by Peter E. Wallcot and Associates and geological mapping by Dr. Stephanie Sykora will be completed on targets generated from both the ZTEM survey and VRIFY AI.  The goal of these surveys will be to derisk targets prior to drilling. 

Thibert Project Summary

The 130 km² Thibert Project is located approximately 65 km north of Dease Lake, northwest British Columbia and covers an area of significant historical and contemporary placer gold production from Thibert Creek and several tributaries for which the bedrock source has not yet been discovered. The Thibert Project spans 27 km of strike length along the Thibert Shear Zone – a major crustal scale terrane bounding fault system. The project is prospective for Cretaceous orogenic gold mineralization similar to that found in the Juneau Gold Belt in Alaska, the Motherlode District in California, and the Bralorne and Cassiar Districts in British Columbia. The Company notes that mineralization on nearby projects or metal districts is not indicative of mineralization on the Thibert Project.

Prospectivity Modelling

Using the Cassiar Gold District as an analogue, a 3-dimensional gold prospectivity assessment was completed at the Thibert Project. The model generated new prospective domains for bedrock gold discovery – Tier 1 and Tier 2 (Figure 2). Shear zones at Thibert were modelled in 3D based on airborne magnetic data and structural interpretation products from Fathom Geophysics (Figure 3). Structural prospectivity assessment was weighted based on ideal structural geometry (ENE) of sheeted vein arrays at Cassiar. Prospectivity is interpreted to broadly follow the trend of the Thibert shear zone, and geometry of the vein swarms and prospectivity domains are inferred to be ENE in orientation similar to at Cassiar. The most prospective domains (Tier 1) coincide with domains of multiple structural intersections, and Tier 1 coincide with at least one structural intersection.

Soil Sampling Program

The planned soil sampling program in 2024 consists of ~1000 soil samples with samples spaced 25 m apart on lines spaced 250 m apart over two areas of interest that coincide with Tier 1 and Tier 2 prospectivity areas with limited glacial till.

The exploration goal for the soil campaign is to outline significant areas of gold anomalism that will lead to a reconnaissance RAB drill program in the future.   

Qualified Person

Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has two 100% owned district-scale projects and an option to earn 100% of the HWY 37 project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 40,219,553 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: [email protected]    

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the projects, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) to acquire the LGM Project from Origen Resources Inc. (“Origen”). The 26,771 HaLGM Project is located immediately south and contiguous with Kingfisher’s HWY 37 Project, in Northwest British Columbia within the Golden Triangle.

Highlights

• Expansion of contiguous holdings in the Golden Triangle from 362 km² to 630 km² including KSM-type targets in west, alkalic Galore Creek-type targets in central region (Grizzly and Lucifer) and unexplored Eskay Creek-type stratigraphy to the east.

• Grizzly Target trench sampling from 2006 returned 0.74% Cu and 1.09 g/t Au over 38 m.

• The LGM Project represents one of only three silica-undersaturated magmatic-volcanic complexes in the Golden Triangle with discovery potential for Galore Creek-type porphyry systems and has only seen 3,988 m of drilling.

• Historical stream sampling at Lucifer outlined a 4 km-long trend of highly anomalous stream sediment samples grading up to 7.8 g/t Au – similar in strength and scale to the Hank epithermal deposit signature at HWY 37.

• LGM Project is fully permitted for diamond drilling.

Dustin Perry, CEO states “Acquiring the LGM Project fits into Kingfisher’s strategy to explore large district-scale opportunities and further increases our land holdings adjacent to Highway 37 in the prolific Golden Triangle. Historical results at LGM show very encouraging early-stage indications of porphyry Cu-Au mineralization with the Galore Creek potential.”

Gayle Febbo, VP Exploration states “The Grizzly and Voigtberg showings represent the only known showings in the region with mineralization hosted in pseudoleucite bearing volcanic rocks without a significant discovery. My work at Galore Creek focused on the structural patterns of ore shoots, and I believe comparable unrecognized patterns and potential exist for the LGM Project.”

The LGM Project Overview

The LGM Project lies directly south of the HWY 37 Project (Figure 1). It parallels Highway 37 and is bound to the south by the Galore Creek access road. The project comprises 26,771 Ha with underlying NSR royalties ranging from 1% to 2%.

LGM offers exposure to three district-scale exploration targets: 1) KSM-type porphyry showings (Texas Creek suite intrusions) in the western half of project, 2) Galore Creek-type showings in the southwest region of project (Galore Creek suite intrusions), and 3) Eskay-type prospective stratigraphy in the eastern project (Iskut River Formation). Despite the highly favourable location within the Golden Triangle and proximity to both the highway and the Galore Creek access road, the project has only seen 3,988 m of shallow reconnaissance diamond drilling. Historical exploration at the project has focused on the Grizzly and Lucifer targets with exploration dating back to the 1970s.

The LGM/Voigtberg, Galore Creek, and Newmont Lake projects represent the only three areas in the Golden Triangle where ~210-208 Ma silica-undersaturated, alkalic magmatic-volcanic complexes are identified. These rare and Cu-Au-rich systems are marked by the presence of pseudoleucite in both the intrusions and in the overlying volcanic rocks. Although many Galore Creek suite intrusions are identified in the region, only three reflect full vertical preservation that includes the pseudoleucite-bearing volcanic carapace. Galore Creek is the most advanced of these projects with a measured and indicated resource of 1,197 Mt at 0.46% Cu and 0.25 g/t Au, and the Newmont Lake Project is host to the Burgundy Ridge drill delineated Cu-Au porphyry deposit. The LGM/Voigtberg region represents rare exposure to a Galore Creek-type system, and the only magmatic-volcanic complex where a deposit has not yet been delineated. The Company notes that mineralization on nearby projects is not indicative of mineralization on the LGM Project.

Figure 1: Regional Overview Map

Figure 2: LGM Project – Grizzly-Voigtberg-Lucifer Trend

 Grizzly Porphyry Target Area

The Grizzly target (Figure 2) is a silica-undersaturated alkalic Cu-Au porphyry with a comparable setting to Galore Creek. The target is centered on a surface trench of 0.74% Cu and 1.09 g/t Au over 38 m and lies within a 1 km by 1 km Cu-Au-Ag-Mo soil geochemical anomaly that grades up to 2916 ppm Cu,  1100 ppb Au, 5.4 ppm Ag, and 160 ppm Mo. Excellent rock sampling results up to 5.91% Cu and 13 g/t Au at Grizzly were the focus of a small drill program in 2008, with 1442.9 m of diamond drilling.

The small program failed to identify the geometry of the porphyry intrusion and drilled exclusively along an east-west azimuth into pseudoleucite-bearing rocks. The NNE axis of mineralization in moderately S-dipping gully defined by rocks was not crossed by the 2008 drill holes. Anomalous intercepts from 2008 include 0.16 g/t Au and 0.10% Cu over 66.6 m (hole GRZ08-11).    

Follow-up geophysical surveys identified a moderate chargeability and magnetic anomaly directly below the Grizzly trench showing. The strongest chargeability anomaly remains untested and lies downslope from the Grizzly showing in a region where monzonite to syenite porphyry is mapped on surface. Three large untested magnetic anomalies were identified at depth below the Grizzly showing, the most westerly coincides with a moderate shallow chargeability anomaly.

The Grizzly showing appears to be a high-level, Galore Creek-type setting with several untested geophysical anomalies and excellent trench results that have not been crossed by drilling. The first-ever 3D modelling was completed by Kingfisher during the due diligence process, and it highlighted porphyry mineralization outlined by historical trenching occurs as a ~150 m wide panel that dips moderately to the south on the shoulder of a large magnetic anomaly. The region represents an opportunity to test higher-level, structurally controlled porphyry emplacement bodies from surface as well as deeper, bulk tonnage porphyry targets.

Lucifer Porphyry and Epithermal Target Area

Lucifer is an early-stage 4 by 5 km region defined by a Cu-Au-Ag-Mo soil geochemical anomaly grading up to 3383 ppb Au, 787 ppm Cu, 5.6 ppm Ag, and 216 ppm Mo; the strongest ASTER anomaly across the Grizzly-Voigtberg-Lucifer Trend; and a 2.5 km by 1 km area of silica-sericite-carbonate-pyrite alteration outlined by Noranda in 1991.  The region is also defined by a large gossan continuous with the Grizzly and Voigtberg targets and is prospective for both porphyry and epithermal mineralization. 

Widely spaced drilling at Lucifer amounts to 1,821.96 m. Airborne geophysical surveys were completed at Lucifer including magnetic susceptibility and VTEM.

The source of Cu-Au mineralization at Lucifer is not yet drill delineated and several gossans on surface to the east are unsampled.

Potential Continuation of Hank-Williams Trend

The northern LGM project lies to the southwest from the Hank-Williams Trend on the HWY 37 Project. Within this area are Texas Creek Suite intrusions mapped by the BC Geological Survey. Much of the prospective region lies in areas of extensive glaciation that have undergone significant recession since the last work was completed in the area by Skeena Resources in 1990. 

Historical rock sampling of intrusive boulders at the toe of one glacier returned grades up to 0.90% Cu, 0.27 g/t Au, and 6.8 g/t Ag. That glacier has since receded by ~1,500 m and not been subsequently explored.  Sampling of lateral moraines in the area returned up to 4.5 g/t Au and 74.6 g/t Ag from breccias. 

Terms of the Agreement

Under the terms of the Agreement, the Company will issue 3,000,000 common shares in the capital of Kingfisher, to Origen and pay C$75,000 in cash to Origen in exchange for the transfer of the LGM Project claims on closing. In addition, the LGM Property is subject to underlying royalty agreements over different parts of the project that range from 1 to 2% with Triple Flag Precious Metals (1%), Ryan Kalt (2%), and Carl von Einsiedel (2%). 

The transaction remains subject to various terms and conditions, including, but not limited to, the approval of the TSX-V and CSE.

Qualified Person

Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

Options Issuance

Kingfisher also announces the grant of 1,700,000 stock options that are exercisable for a period of five years at a price of C$0.25 per share to its directors, officers, various staff members, and an investor relations consultant (Adelaide Capital Markets Inc.).

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has two 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 40,219,553 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: [email protected]    

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the transaction, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to its news releases dated March 18, 2024, and May 13, 2024, it has closed the second and final tranche of its previously announced private placement (the “Offering”) through the issuance of 6,869,998 units of the Company (a “Unit”) at a price C$0.175 per Unit for aggregate gross proceeds of C$1,202,249.65. On May 13, 2024, the Company closed the first tranche of the Offering for proceeds of C$906,212.43. In total, 11,391,212 Units and 511,111 flow-through units of the Company were issued for aggregate gross proceeds of C$2,108,462.08.  

Each Unit consists of one common share and one-half of one transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of the Company for 24 months from the closing date of the second tranche of the Offering at an exercise price of C$0.30.

In connection with the second tranche of the Offering, commissions on the sale of the Units were paid to an eligible finder (the “Finder”) in accordance with the policies of the TSX Venture Exchange and applicable securities law. The Company paid a cash commission of C$630.00 and issued 3,600 finder warrants (the “Finder Warrants”) to a Finder. Each Finder Warrant entitles the holder thereof to acquire one common share at a price of C$0.30 at any time prior up to 24 months following the closing date of the second tranche of the Offering.

All securities issued pursuant to the Offering, including common shares issuable upon the exercise of warrants or Finder Warrants, are and will be subject to a hold period of four months and one day after the date of closing of the second tranche of the Offering.

Multilateral Instrument 61-101 – Related Party Transaction

Crescat Portfolio Management LLC is an insider of the Company and participated in the second tranche of the Offering by purchasing 2,857,142 Units for an aggregate subscription price of C$500,000. Accordingly, the Offering constitutes a “related party transaction” for the Company within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval under MI 61-101 as the fair market value of each of the insider’s participation in the Offering does not exceed more than 25% of the market capitalization of the Company, as set forth in Sections 5.5(a) and 5.7(1)(a) of MI 61-101.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 40,219,553 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: [email protected]    

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to its news release dated March 18, 2024, it has closed the first tranche of its private placement financing (the “Offering”) through the issuance of 4,521,214 units of the Company (a “Unit”) at a price $0.175 per Unit and 511,111flow-through units of the Company (a “FT Unit”) at a price of $0.225 per FT Unit for aggregate gross proceeds of C$906,212.43. A second and final tranche of the Offering of up to an additional approximately C$1,093,787.57 remains open and is expected to close in May 2024.

Each FT Unit consists of one flow-through common share and one half of one transferable non-flow-through common share purchase warrant. Each Unit consists of one common share and one–half of one transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of the Company for 24 months from the closing date of the first tranche of the Offering at an exercise price of C$0.30.

The gross proceeds received by the Company from the sale of the FT Units will be used, pursuant to the provisions in the Income Tax Act (Canada) (the “Tax Act”) to incur, directly or indirectly, expenses (“Qualifying Expenditures”) related to the Company’s projects in British Columbia, on or before December 31, 2025, that are eligible “Canadian exploration expenses” (as defined in the Tax Act), which will qualify as “flow-through critical mineral mining expenditures” (as defined in the Tax Act) and “BC flow-through mining expenditures” as defined in the Income Tax Act (BC). The Company willrenounce all the Qualifying Expenditures in favour of the applicable subscribers of the FT Units effective December 31, 2024.

In connection with the first tranche of the Offering, the Company paid to Red Cloud Securities Inc. a finder’s fee of $1,050 in cash.

The Offering is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. All securities issued pursuant to the first tranche of the Offering, including common shares issuable upon the exercise of warrants or finder warrants, are and will be subject to a hold period of four months and one day after the date of closing of the first tranche of the Offering.

Multilateral Instrument 61-101 – Related Party Transaction

Dustin Perry, CEO, is an insider of the Company andparticipated in the first tranche of the Offering by purchasing 114,286 Units for an aggregate subscription price of C$20,000. Richard Trotman, a director, is an insider of the Company and participated in the first tranche of the Offering by purchasing 30,000 Units for an aggregate subscription price of C$5,000. DCJL Management Ltd. (“DCJL”) is aninsider of the Company by virtue of David Loretto, a director, controlling DCJL. DCJL participated in the first tranche of the Offering by purchasing 30,000 Units for an aggregate subscription price of C$5,000. Alejandro Emiliano Gubbins Cox is an insider of the Company and participated in the first tranche of the Offering by purchasing 1,143,000 Units for an aggregate subscription price of C$200,025. Plethora Precious Metals Fund Management is an insider of the Company and participated in the first tranche of the Offering by purchasing 750,000 Units for an aggregate subscription price of C$131,250. Accordingly, the Offering constitutes a “related party transaction” for the Company within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval under MI 61-101 as the fair market value of each of the insider’s participation in the Offering does not exceed more than 25% of the market capitalization of the Company, as set forth in Sections 5.5(a) and 5.7(1)(a) of MI 61-101.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 33,349,555 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.

CEO and Director

Phone:​+1 236 358 0054

E-Mail: [email protected]

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,”“believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,”“may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

VANCOUVER, British Columbia – April 3, 2024 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces that it will complete a consolidation of the issued and outstanding shares of the Company at a ratio of five (5) pre-consolidation common shares for one (1) post-consolidation common share (the “Consolidation”). The Consolidation will take effect on opening of business on April 8, 2024.

The Consolidation will increase Kingfisher’s flexibility and competitiveness in the market, and to make the Company’s securities more attractive to a wider audience of potential investors.

As a result of the Consolidation, the Company’s currently issued and outstanding 141,586,151 common shares will be reduced to approximately 28,317,230 common shares. No fractional common shares will be issued as a result of the Consolidation. Instead, any fractional common shares will be rounded down to the nearest whole number of common shares. The Company’s new CUSIP number is 49571M503 and its new ISIN number is CA49571M5037.

In accordance with the Articles of the Company, the Consolidation does not require approval of the shareholders of the Company.

Registered shareholders will receive a letter of transmittal from the Company’s transfer agent, Computershare Investor Services Inc. (“Computershare”), with information on how to exchange their old share certificates representing pre-Consolidation common shares with the new share certificates representing post-Consolidation common shares. Computershare will forward to each registered shareholder who has provided the required documents a new share certificate representing the number of post-Consolidation common shares to which the shareholder is entitled. Until surrendered, each share certificate representing pre-Consolidation common shares of Kingfisher will be deemed for all purposes to represent the number of whole post-Consolidation common shares to which the holder is entitled as a result of the Consolidation.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc.

For further information, please contact:

Dustin Perry, P.Geo.

CEO and Director

Phone: +1 236 358 0054

E-Mail: [email protected]    

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Kingfisher. In making the forward-looking statements, Kingfisher has applied certain assumptions that are based on information available, including Kingfisher’s strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Kingfisher does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

VANCOUVER, British Columbia – March 26, 2024 -Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces that further to its previous release on March 18, 2024, to complete a non-brokered private placement (the “Offering”) for gross proceeds of up to $2 million that the Company intends to complete a consolidation of its common shares on the basis of one (1) post-consolidation Common Share for each five (5) pre-consolidation Common Shares (the “Consolidation”).

The Offering

The Offering will consist of a non-brokered private placement of flow-through units (the “FT Units”) at a post-Consolidation price of $0.225 per FT Unit($0.045 per FT Unit on a pre-Consolidation basis)and units (the “Units”) at a post-Consolidation price of $0.175 per Unit ($0.035 per Unit on a pre-Consolidation basis) for aggregate gross proceeds of up to $2.0 million.

Each FT Unit will consist of one flow-through common share and one half of one transferable non-flow-through common share purchase warrant. Each Unit will consist of one common share and one-half of one transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of the Company for 24 months from the closing date of the Offering at an exercise price of $0.06 ($0.30 on a post-Consolidation basis).

The Offering will be made by way of private placement in each of the provinces of Canada pursuant to applicable exemptions from the prospectus requirements. 

The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada) (the “Tax Act”) to incur, directly or indirectly, expenses (“Qualifying Expenditures”) related to the Company’s projects in British Columbia, on or before December 31, 2025, that are eligible “Canadian exploration expenses”(as defined in the Tax Act), which will qualify as “flow-through critical mineral mining expenditures”(as defined in the Tax Act) and “BC flow-through mining expenditures” as defined in the Income Tax Act (BC). The Company will renounce all the Qualifying Expenditures in favour of the applicable subscribers of the FT Units effective December 31, 2024. 

The Offering is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. The FT Units and the Units will be subject to a hold period of four months and one day from the closing date of the Offering in accordance with applicable securities laws.

In connection with the Offering, certain arm’s-length parties may receive a cash finder’s fee payment and/or warrants to purchase common shares in the capital of the Company in consideration of securities that are sold to subscribers introduced by suchparties. Any cash finder’s fee payment and/or warrants will be subject to the approval of and will be issued in accordance with the rules of, the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The Consolidation

The Company currently has 141,586,151 common shares issued and outstanding and following the completion of the Consolidation will have approximately 28,287,230 common shares issued and outstanding, without taking into account the Offering. The number of post-Consolidated common shares to be received will be rounded up to the nearest whole number for fractions of 0.5 or greater or rounded down to the nearest whole number for fractions of less than 0.5.

Pursuant to the provisions of the Business Corporations Act (British Columbia) and the Articles of the Company, the Consolidation was approved by way of resolution passed by the board of directors of the Company.

The Company will apply to the TSXV for approval of the Consolidation. The common shares will commence trading on a post-consolidated basis on a date to be determined in consultation with the TSXV, which date will be announced in a subsequent news release once confirmed, but is expected to occur prior to the closing of the Offering. The Company’s name and trading symbols will remain unchanged.

About Kingfisher Metals Corp.

Kingfisher Metals Corp.(https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 141,586,151 shares outstanding.

For further information, please contact: 

Dustin Perry, P.Geo. 
CEO and Director
Phone:​+1 236 358 0054
E-Mail: [email protected]

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,”“anticipates,” “believes,” “intends,” “estimates,”“projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

VANCOUVER, British Columbia – March 18, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce a non-brokered private placement of flow-through units (the “FT Units”) at a price of $0.045 per FT Unit and units (the “Units”) at a price of $0.035 per Unit for aggregate gross proceeds of up to $2.0 million (the “Offering”).

Each FT Unit will consist of one flow-through common share and one half of one transferable non-flow-through common share purchase warrant. Each Unit will consist of one common share and one-half of one transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of the Company for 24 months from the closing date of the Offering at an exercise price of $0.06.

The Offering will be made by way of private placement in each of the provinces of Canada pursuant to applicable exemptions from the prospectus requirements. 

The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada) (the “Tax Act”) to incur, directly or indirectly, expenses (“Qualifying Expenditures”) related to the Company’s projects in British Columbia, on or before December 31, 2025, that are eligible “Canadian exploration expenses”(as defined in the Tax Act), which will qualify as “flow-through critical mineral mining expenditures”(as defined in the Tax Act) and “BC flow-through mining expenditures” as defined in the Income Tax Act (BC). The Company will renounce all the Qualifying Expenditures in favour of the applicable subscribers of the FT Units effective December 31, 2024. 

The Offering is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. The FT Units and the Units will be subject to a hold period of four months and one day from the closing date of the Offering in accordance with applicable securities laws.

In connection with the Offering, certain arm’s-length parties may receive a cash finder’s fee payment and/or warrants to purchase common shares in the capital of the Company in consideration of securities that are sold to subscribers introduced by suchparties. Any cash finder’s fee payment and/or warrants will be subject to the approval of and will be issued in accordance with the rules of, the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Kingfisher Metals Corp.

Kingfisher Metals Corp.(https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia, including the Golden Triangle region. Kingfisher has three 100% owned district-scale projects and an option to earn 100% of the HWY 37 Project, that offer potential exposure to gold, copper, silver, and zinc. The Company currently has 130,436,151 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: [email protected]    

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.