Kingfisher Provides Update on Private Placement

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.

Kingfisher Announces Private Placement of up to $2.0 Million

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.

Kingfisher Drills 438 m of 0.43 g/t Au Eq. From Surface at HWY 37 Project in the Golden Triangle, BC

Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce the full results of the 2023 diamond drilling program at the HWY 37 Project with 2,150 m drilled over six holes (Fig. 1). The project is located in northwest British Columbia within the Golden Triangle.

Highlights

  • A ~100 m southern step-out at the Mary porphyry deposit returned 0.43 g/t Au Eq over 438 m (0.26 g/t Au, 0.043% Cu, and 36 ppm Mo; hole M-23-006) and is the first-ever hole into barren cover rocks that significantly expands the prospective area.
  • A high-level setting, indicated by epithermal veins at Mary (3 m of 811 g/t Ag; M-23-006), suggest potential for an increase in disseminated porphyry copper grades at deeper levels.
  • A ~1,000 m southeastern step-out from Mary delineated a large alteration body below the barren cover at the Mary Root Zone target consistent with a flanking zinc-rich ‘pyrite halo’ position to a porphyry core including 241.7 m of 0.31 g/t Au Eq. (0.16 g/t Au, 4.6 g/t Ag, 0.039% Pb, 0.126% Zn; hole M-23-002).
  • Drilling at Cliff Porphyry is the first to test a sizeable 300 by 150 m quartz stockwork body separated from the Mary deposit by >1,400 m to south-southwest across a drape of barren cover rock. Initial test of stockwork returned 114 m of 0.2% Cu Eq. (0.114% Cu, 0.04 Au, 67 ppm Mo; hole M-23-001).

Dustin Perry, CEO states “Our modestly sized first ever drill program at HWY 37 successfully delivered results supporting our thesis that the Mary area has significant room to grow and that there is potential for the discovery of large porphyry systems comparable to other deposits within the Golden Triangle. We look forward to continued drilling in 2024 at this underexplored porphyry district within the prolific Golden Triangle of British Columbia.”

Gayle Febbo, VP Exploration states “The large vertical and lateral scale of alteration is reminiscent of other notable Au-Cu districts in the region such as KSM and Treaty Creek. This program has shown us that the Mary area has kilometer scale lateral exploration opportunities with a high-level porphyry setting ideal for the potential discovery of a lower-level copper body comparable to those delineated at KSM.”

Summary

The Mary deposit is one of three advanced targets on the HWY 37 Project in addition to the Williams Cu-Au porphyry deposit and the Hank Au-Ag epithermal deposit. The Mary porphyry system is located 9 km from Highway 37 and the Northwest Transmission Line. 

Drilling at the Mary deposit in 2023 expanded the northerly strike length from 360 m to 450 m and increased the width to ~240 m (Figs. 1 and 2). No previous programs have drilled beneath the cover rock (Fig. 2) to determine the economic potential of geological units, and these drill holes demonstrate that alteration projects under cover in a large region. The cover unit represents a significant untested target area that measures 1 x 1 km and is flanked by a significant stockwork body at Cliff to the south, a broad flanking-type porphyry alteration pattern to the east at Mary Root Zone target, and a drill delineated Mary deposit to the north.

The Mary Root Zone target concept was based on a large coincident chargeability-resistivity geophysical anomaly, and two holes were able to identify that the scale and depth of the anomalies is consistent with a very large gold-bearing hydrothermal system (Figs. 1 and 2). Metal zonation patterns, particularly of zinc, are commonly distributed in a flanking (along-side) or a carapace (above) body relative to the copper zone at both nearby porphyry deposits (e.g., Williams and Goldstorm deposits).

The Cliff stockwork body was tested by two holes – one to test the width extent and a second to test the depth extent. Compared to the Mary deposit, drilling intercepted a unique and more felsic phase of intrusion with a higher quartz vein abundance, a low gold to copper ratio, and high relative molybdenum to gold. The Cliff porphyry is interpreted as a relatively small, younger phase emplaced at the margin of a km-scale, zoned porphyry system represented in part by the Mary deposit and the Mary Root Zone target.

Table 1: Drill highlights eastern HWY 37 Project

TargetHoleFrom (m)To (m)Interval (m)Au Eq. g/t*Cu Eq. %*Au g/tAg g/tCu %Mo ppmPb %Zn %
CliffM-23-0012673811140.200.041.30.11467
Incl.330345150.350.070.90.151228
M-23-004229.129464.90.110.010.40.09213
Mary Root ZoneM-23-00279.3321241.70.31 0.164.60.01260.0390.126
Incl.106.1131.725.60.59 0.2611.30.00530.1350.277
Incl.171237660.51 0.306.20.022100.0370.161
M-23-003128189.561.50.30 0.113.50.00830.1020.233
M-23-003270322520.43 0.206.40.028120.0280.190
MaryM-23-00510.5123.3112.80.19 0.130.20.01635
M-23-00694474380.43 0.266.00.04336
Incl.422191770.62 0.3014.30.05656
Incl.105108311.36 0.128110.36044  
Incl.300330300.67 0.540.80.07513

*Au equivalent (Eq.) and Cu equivalent (Eq.) values were calculated using the following metal prices: Au = $1900.00/oz, Cu = $4.00/lb, Ag = $25.00/oz, Mo = $24.38/lb, Pb = $1.03/lb, and Zn = $1.13/lb. No current or historical metallurgical work has been completed on the mineral deposits within the Project and as such recoveries are assumed to be 100%. The formula used to calculate the equivalent values for the Mary Target and Figure 2, 3 and 9 is Au Eq. g/t = Au g/t + (Cu % * 1.4436) + (Ag g/t * 0.0132) + (Mo % * 8.7988). The formula used to calculate the Au equivalent values for Root Zone Target and Figure 5 is Au Eq. g/t = Au g/t + (Cu % * 1.4436) + (Ag g/t * 0.0132) + (Mo % * 8.7988) + (Pb % * 0.3717) + (Zn % * 0.4078). The formula used to calculate the Cu equivalent values for Figure 10 and Cliff Target is Cu Eq. % = Cu % + (Au g/t * 0.6927) + (Ag g/t * 0.0091) + (Mo % * 6.095).  Au Eq. and Cu Eq. are used for illustrative purposes and do not imply that the metals are economically recoverable.

Table 2: Diamond Drill Collars (NAD 83 – Zone 9), MRZ – Mary Root Zone

HoleAreaEastingNorthingElev. (m)Depth (m)AzimuthDip
M-23-001Cliff4139356347918144538413055
M-23-002MRZ4148226348312146041731065
M-23-003MRZ4147686348163140137230057
M-23-004Cliff4140366347812134033932767
M-23-005Mary4143306349201160818910580
M-23-006Mary414330634920116084498662

Mary Deposit Drilling

Hole M-23-006 successfully expanded both the strike-length and width of the Mary deposit with 0.43 Au Eq. over 438 m (Table 1) and also verified that significant exploration potential exists below the barren cover. Descriptions of the drill holes are available in a previous news release (November 2, 2023). The initial drill hole, M-23-005, was abandoned due to difficult drilling conditions and did not reach the interpreted location of the target copper body.

Drilling at the Mary deposit in 2023 expanded the northerly strike length from 360 m to 450 m and increased the width to ~240 m (Fig. 3). The Mary deposit dimensions are yet to be fully delineated, and significant potential exists under cover to the south and southeast.

Previous groups have been deterred from drilling below the barren cover unit due to the absence of geochemical anomalism. Holes M-23-005 and -006 are the first to collar in this geochemical ‘dead zone’ and demonstrate that this draped cover conceals a large porphyry alteration system.

The very high gold to copper ratios and presence of narrow high-grade silver at Mary, with 811 g/t Ag over 3 m (Table 1),are unusual for a porphyry deposit. In the upper couple hundred meters of the deposit, the gold to copper ratio ranges 8:1 to 6:1 and at mid-levels the gold to copper ratio is slightly higher at around 2:1. The high-gold metal ratios and epithermal textures near surface at Mary reflect the highest reaches of a porphyry system. Such systems commonly grade vertically into copper-dominant domains at depth.

Significant exploration potential exists for vertical zonation down to a copper-rich body at Mary. There are many examples in the region where gold-rich or gold-only porphyry deposits were discovered at surface and copper-rich bodies were eventually drilled below those levels. Examples include the deeper levels of the Goldstorm deposit (Treaty Creek project) the Mitchell deposit below Snowfield (KSM project), the Lower Iron Cap deposit below Iron Cap (KSM project). The Company cautions the reader that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the HWY 37 Project.

Mary Root Zone Target Drilling

Two holes at the Mary Root Zone Target were drilled at a spacing of ~170 m (Fig. 2).  Broad anomalous gold and zinc were intercepted, such as 241.7 m of 0.16 g/t Au, and 0.13% Zn (Table 1, Figs. 5 and 6). A third hole was planned and a drill pad built to test the highest value chargeability anomaly, ~260 m north of M-23-002, but slow drilling conditions at the Mary deposit (holes M-23-005 and -006) prevented the completion of the planned third hole during the 2023 program. For hole descriptions, see previous news release (November 2, 2023). The Mary Root Zone target tests a large coincident chargeability-resistivity geophysical anomaly that is mostly positioned below the barren cover rock (Fig. 7).

The area of drilling tests the margin of the barren cover rock and reflects a geochemical signature consistent with a flanking (alongside) or overlying domain to a gold-bearing porphyry. Broad zinc anomalism was intercepted throughout both holes (Fig. 8), such zinc anomalism is known both locally and regionally to be situated proximal to Cu-Au porphyry deposits. The width of the anomalous zinc intercepts (Fig. 8) at the Mary Root Zone is on par with those at the Goldstorm deposit, at the Treaty Creek Project. Zinc zonation is also present at the nearby Williams deposit, within HWY 37 Project, where anomalous zinc intercepts flank and overlie the porphyry deposit. The Company cautions the reader that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the HWY 37 Project.

Copper values at the Mary Root Zone are low, not exceeding 0.3% Cu throughout the broad anomalous zinc intercept. Many regional porphyry examples reflect a similar decoupled distribution of metal – low or no copper in the zinc zone, and very low zinc in the copper zone. See Goldstorm and Williams porphyry examples (Fig. 8) where very low zinc exists in the copper body and very little copper is delineated in the zinc zones.

The Company interprets the Mary Root Zone results to delineate the flanks or tops to a porphyry system with a much larger zonation scale than the known Mary deposit ~1 km to the NW. The presence of anomalous gold in the flanking alteration is a likely predictor of the presence of gold in the conceptual copper core as well. 

Figure 6: A) Pervasive and disseminated porphyry-style secondary quartz (qz), sericite (ser), pyrite (py), and sphalerite (sph) with late carbonate stringers (cb) in diorite; B) Volcaniclastic andesite altered to quartz (qz), carbonate (cb), sphalerite (sph), pyrite (py) and galena (gal), Mary Root Zone (M-23-002, 123.2 m)

Cliff Target Drilling

Two holes were drilled at the Cliff porphyry and were the first-ever test of a significant quartz stockwork body that measures 300 by 150 m on surface (Fig. 10). The stockwork body is located >1400 m to the south-southwest of the Mary deposit across a drape of barren cover. For a description of the holes see previous news release (November 2, 2023). Initial tests of the stockwork returned 114 m of 0.2% Cu Eq. (0.114% Cu, 0.04 Au, 67 ppm Mo; hole M-23-001).

Compared to the Mary deposit, drilling intercepted a unique and more felsic phase of intrusion with a higher quartz vein abundance (Fig. 11) and a low gold to copper ratio yet high relative molybdenum to gold. The Cliff porphyry is interpreted as a younger phase emplaced at the margin of a km-scale, zoned porphyry system represented in part by the Mary deposit and the Mary Root Zone target.

Future Plans

The Company is currently evaluating the extensive database of historical exploration and geological information in addition to our 2023 exploration results at the HWY 37 Project. Kingfisher is working toward the first-ever geological and structural 3D model for both the Mary and Hank-Williams regions. In 2023, Kingfisher completed the first-ever project-scale 3D inversion of historical airborne magnetic data and the first-ever 3D IP inversion of the Mary area. These new valuable datasets are currently being integrated with new 2023 geological surface mapping at Mary and at Hank areas for target generation and refinement.

In the summer of 2023, Kingfisher applied for a 5-year multi-year area-based permit (MYAB) covering the Hank portion of the HWY 37 Project. Hank is host to the Hank epithermal Au-Ag deposit with intercepts including 11.63 g/t Au over 20 m (HNK-18-010) across a ~6 km long trend of mineralization. The Hank area is also host to the 2017 discovery of the Williams porphyry deposit with intercepts including 0.34% Cu and 0.42 g/t Au over 318.73 m (HNK-18-013). The Company believes that there is significant discovery potential for both Brucejack-type intermediate sulfidation epithermal Au-Ag as well as Cu-Au porphyry deposits in the Hank portion of the project. It is anticipated that the Company will receive the 5-year drill permit in advance of the 2024 drill program and Kingfisher intends to focus on exploring both the Mary porphyry and Hank epithermal area targets with drilling in 2024.

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 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 130,586,151 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 778 606 2507
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 forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Kingfisher Announces Completion of Drill Program at HWY 37 Project in the Golden Triangle, BC

Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce the completion of diamonddrilling at the HWY 37 Project with 2150 m drilledover 6 holes. The project is located in Northwest British Columbia within the Golden Triangle.

Summary

The 2023 diamond drill program focused on three target areas: the Cliff porphyry, the Mary Root Zone, and the Mary deposit southern step-out (Fig. 1). Two holes (M-23-001 and M-23-004) tested the Cliff porphyry, one from upslope that crossed the stockwork to test the width extent and one that collared at a lower elevation in the stockwork to test the changes with depth. Two holes were completed at the Mary Root Zone at the central (M-23-002) and southern target (M-23-003), with the strongest alteration and metal content intercepted in the northern hole. A single hole was originally planned at the Mary deposit, but difficult drilling conditions caused the loss of the hole prior to target depth. So, a second hole was drilled from the same pad to test the deeper extents of the area. Drill core samples are currently being assayed and results will be released once available.  

Figure 1: Surface Map of Drill Collar Locations

HoleAreaEastingNorthingElev. (m)Depth (m)AzimuthDip
M-23-001Cliff4139356347918144538413055
M-23-002MRZ4148226348312146041731065
M-23-003MRZ4147686348163140137230057
M-23-004Cliff4140366347812134033932767
M-23-005Mary4143306349201160818910580
M-23-006Mary414330634920116084498662

Table 1: Diamond Drill Collars (NAD 83 – Zone 9), MRZ – Mary Root Zone

Cliff Porphyry Target

Two diamond holes tested a ~200 x 100 m chalcopyrite-bearing quartz stockwork body at surface, located in the core of a Cu-Au-Ag-Mo soil anomaly and coincident magnetic high. The initial hole (M-23-001) collared above the stockwork body, drilling across the stockwork body to the southeast. The second hole (M-23-004) collared in the stockwork body and drilled to the northwest, to cross the stockwork body and drill at-depth below it.

Lithology in the two holes comprises sub-horizontal layers of volcaniclastic to coherent basalt with lesser rhyolite and multiple phases of cross-cutting hornblende monzonite to monzodiorite porphyry and biotite hornfels in the contact zones. Three broad alteration domains were identified within the two drill holes:

1. An ‘inner propylitic’ alteration panel overlies the stockwork body with quartz, actinolite, chlorite, epidote, white mica, carbonate, galena, sphalerite, and pyrite (0-72 m; M-23-001).

2. A principle ‘potassic’ stockwork alteration body with 5-35% quartz veins, secondary K-feldspar, biotite, magnetite, pyrite, chalcopyrite and trace covellite (72-264 m, M-23-001; 0-126 m, M-23-004).

3. A deeper level ‘sodic-potassic’ alteration domain with secondary K-feldspar, quartz, albite, magnetite, diopside, actinolite, chlorite, epidote, pyrite, chalcopyrite and molybdenite; (264-384m, M-23-001; 126-300 m, M-23-004).

Mary Root Zone Target

Two diamond holes targeted a coincident chargeability-resistivity anomaly starting at depth in holes M-23-002 and M-23-003. Host lithology includes a matrix-supported, volcaniclastic andesite and multiple phases of hornblede monzonite to hornblende monzodiorite porphyry. The holes intersected three vertically zoned alteration domains:

1. An upper panel of ‘inner propylitic’ alteration with secondary albite, actinolite, chlorite, epidote, pyrite, and carbonate stringers (0-80 m, M-23-002).

2. A mid-level ‘phyllic’ alteration, with stringers and disseminations of pyrite (average 8%), white mica, carbonate, pervasive quartz, green fluorite, clay, disseminations, and stringersthroughout of sphalerite, galena, chalcopyrite and pyrrhotite (80-270 m, M-23-002; 145-308 m, M-23-003).

3. A deeper level, higher temperature ‘sodic’ to ‘sodic-potassic’ alteration domain includes pervasive secondary K-feldspar, albite flooding, white mica, quartz, fluorite, anhydrite, disseminated pyrite (average 5%), anddisseminations of sphalerite, galena, chalcopyrite, and pyrrhotite (270-417 m, M-23-002; 308-372 m, M-23-003).

Mary Deposit Step-Out

The planned hole is a ~100 m step-out that follows-up on a drillhole from 2019, which intersected 0.5 g/t Au, 0.1% Cu over 291.5 m from 15.5 m (BCK-MZ-19-01). The initial hole (M-23-005) faced difficult drilling conditions and the hole was lost at 189 m. The second hole (M-23-006) was drilled from the same pad with a change in azimuth and dip. Both holes collar in a coherent to volcaniclastic basalt:

1. An upper ‘potassic’ alteration assemblage with secondary K-feldspar, biotite, quartz with disseminated pyrite, chalcopyrite andmolybdenite) in a basalt host (0-189 m, M-23-005; 0-199 m; M-23-006).

2. A mid-level chlorite-magnetite alteration with pervasive chlorite, quartz, albite and disseminated magnetite, pyrite, chalcopyrite and molybdenite in host of basalt, diorite, and monzonite (199-449 m, M-23-006).

Additional Field Work

Surface geological mapping was undertaken by geological mapping expert Dr. Stephanie Sykora with a focus on the Hank and Rojo Grande map areas. The map study focused on identifying structural, stratigraphic and alteration patterns in the area in preparation for future drilling in 2024.

Target 4 (Fig. 1) is a new area of interest identified by geophysical and structural patterns. Kingfisher carried out prospecting and identified chalcopyrite in quartz stockwork in a region with no previous rock or soil samples. Prospecting was followed-up with a soil grid of 47 samples conducted over the area with results pending.

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 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 130,586,151 shares outstanding.

For further information, please contact: 

Dustin Perry, P.Geo. 

CEO and Director

Phone:​+1 778 606 2507

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 forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Kingfisher Announces Commencement of Drill Program at HWY 37 Project in the Golden Triangle, BC

VANCOUVER, British Columbia, August 14, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce diamond drilling has begun at the HWY 37 Project for the planned ~2500 m drill program. The project is located in Northwest British Columbia within the Golden Triangle.

Highlights

  • Drill test of the Cliff porphyry target follows-up on untested significant stockwork on surface adjacent to a single historical drill hole that bottomed in 0.11 % Cu over 81 m (Hole BC06-01) in flanking alteration.
  • Sampling by Kingfisher in 2023 returned 1.70% Cu from the Cliff porphyry stockwork body.
  • Drilling south along trend from the Mary deposit targets open mineralization adjacent to hole BCK-MZ-19-01 with 0.48 g/t Au and 0.14% Cu over 291.5 m.

Dustin Perry, CEO states “We are beginning an exciting drill program at the relatively underexplored HWY 37 Project within the prolific Golden Triangle. This program is focused on new copper-rich porphyry discoveries with drilling at the untested Cliff stockwork body and the Mary Root Zone which are part of a large 6×6 km alteration zone that includes the Mary deposit. Drilling will also focus on expanding the footprint of the Mary deposit.”

The ~2500 m diamond drill program at the HWY 37 Project is currently underway with initial drilling at the Cliff porphyry target. The drill contractor is Konaleen Drilling, a Tahltan based company.

Cliff Porphyry Drill Target

The Cliff porphyry is part of a ~4 km-long Cu-Au-Ag-Mo soil anomaly on trend with the Mary deposit and is the first drill target of the program. Two creek gullies in the core of the soil anomaly (Figure. 1) provide narrow exposures of copper-bearing stockwork. Mapping delineated a >200 m trace in the western gully and >100 m trace in the eastern creek. The stockwork body is host to 5-30% by volume veins of magnetic K-feldspar-biotite-magnetite-quartz-chalcopyrite-pyrite-galena. Kingfisher sampled the stockwork on surface (Sample C0144155, Figure 1) returning 1.70% Cu, 0.04 g/t Au, 26.93 g/t Ag, 58.4 ppm Mo. Historical rocks in the stockwork grade up to 0.7% Cu.

Figure 1: Cliff Porphyry Drill Target

Only one historical drillhole at Cliff porphyry (Hole BC06-01) collared east of the stockwork body (Figures 1&2). The hole bottomed in 0.11% Cu over 80.62 m, where quartz-sulfide veins increase to 2-5% by volume. The stockwork body mapped on surface hosts a higher volume of veins (5-30%) and was not tested by hole BC06-01.

This stockwork body lies above a large, untested magnetic anomaly (Figure 2). Hole BC06-01 bottomed in 0.11% Cu over 80.62 m but did not intersect the intense zone of stockwork outlined in Figure 1.   The bottom of BC06-01 is ~170 m from a large magnetic anomaly. 

Figure 2: Cliff Magnetic Anomaly

Mary Root Zone Geophysical Target

Between the Mary and Cliff porphyry centres is an untested large alteration expression cored by a coincident chargeability-resistivity geophysical anomaly (Figure 3). Gold grade at Mary is coincident with a resistivity high, draped around a subvertical chargeability anomaly. Highest relative copper grade is hosted along the upper boundary and within the core of the chargeability anomaly. The Mary Root Zone target similarly hosts a subvertical chargeability anomaly enclosed by a resistivity anomaly with continuity to the Mary deposit.

A conceptual root zone is inferred to have high relative copper compared Mary due to the deeper level. The geophysical anomaly indicates that the root zone target is larger in vertical and lateral scale than Mary.

Figure 3: Mary Root Zone Target

Mary Deposit Step-out

The upper levels of the Mary deposit are marked by open-ended low angle metal patterns in Au and Cu. Deeper drill delineation below the Mary deposit is limited to one hole along the northeastern flanks of the deposit. The projection of the low angle metal patterns remains untested to the west, south and east. The at-depth extent of the system below the low angle metal pattern is tested by just one hole (BC12-47) that drilled ~130 m to the north of the top three intercepts, all located in the southern drilled extent.

One step-out hole is planned to test the southern continuation of the Cu-Au intercepts. Delineating the full lateral extent of the upper metal patterns is key to future targeting of the at-depth projection of metal patterns. The planned hole follows-up on a drillhole from 2019, which intersected 0.5 g/t Au, 0.1% Cu over 291.5 m from 15.5 m (BCK-MZ-19-01).

Options Issuance

Kingfisher also announces the grant of 3,650,000 stock options that are exercisable for a period of five years at a price of $0.12 per share to its directors, officers, various staff members, and an investor relations consultant (Adelaide Capital Markets Inc.).

Quality Assurance/Quality Control (QAQC)

Rock samples were shipped to MSALABS, located in Langley, British Columbia for preparation and analysis. MSALABS is an ISO17025 and ISO9001 accredited laboratory and is independent of Kingfisher and its Qualified Person. Samples were prepped using the PRP-915 and analyzed for 48 major and trace elements with ICP-MS after a four-acid digestion (method code IMS-230). A 30 g split from assay sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AA (method code FAS-111). Overlimit (>10,000 ppm) copper was determined using a 0.2 gram sample, four-acid digestion and ICP-AES finish (method core ICF-230).

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 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 130,586,151 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.

CEO and Director

Phone: +1 778 606 2507

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 forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Kingfisher Announces Closing of Private Placement Financing

VANCOUVER, British Columbia – August 3, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to the Company’s news releases dated May 15, 2023 and July 17, 2023, it has closed its private placement financing (the “Offering”) for gross proceeds of approximately C$2.8 million through the issuance of 21,632,450 charity flow-through units at a price of C$0.12 per charity flow-through unit and 2,325,000 flow-through units at a price of C$0.10 per flow-through unit of the Company (collectively, the “Offered Units”).

Each Offered Unit is comprised of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), each of which will qualify as “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). Each Warrant is exercisable for one Common Share at an exercise price of C$0.15 per Common Share at any time up to 24 months following the closing date of the Offering.

The aggregate gross proceeds raised from the Offering will be used, pursuant to the provisions in 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, 2024, 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 Offered Units effective December 31, 2023.

In connection with the Offering, commissions on the sale of the Offered Units were paid to eligible finders (the “Finders”) in accordance with the policies of the TSX Venture Exchange and applicable securities law.  The Company paid an aggregate of C$9,059.45 in cash commissions and issued 45,000 finder warrants (the “Finder Warrants”) to the Finders.  Each Finder Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.15 at any time prior up to 24 months following the closing date 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 Offering.

Certain insiders of the Company subscribed for an aggregate of 4,255,960 Offered Units for gross proceeds of $513,115.20 under the Offering. Participation by insiders of the Company in the Offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 as the Common Shares are listed on the TSXV. The issuance of securities is also exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(b) of MI 61-101 as the fair market value was less than $2,500,000.

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 130,586,151 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 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; and the impact of COVID-19.

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 Announces Update to Operations at HWY 37 Project and Private Placement

VANCOUVER, British Columbia – July 17, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces that, further to its news release dated May 15, 2023, it has received an extension from the TSX Venture Exchange (“TSX-V”) to close its  non-brokered private placement of charity flow-through units (the “Charity FT Units”) at a price of $0.12 per Charity FT Unit and flow-through units (the “FT Units” and, collectively with the Charity FT Units, the “Offered Units”) at a price of $0.10 per FT Unit for aggregate gross proceeds of up to $3.0 million (the “Offering”).

The Offering is expected to close on or about August 3, 2023, and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX-V. All terms of the Offering remain the same.

Field crews have mobilized to the HWY 37 Project area and have commenced preparations for camp and drill pad construction for the proposed ~2,500 m diamond drill program, which is expected to start after closing of the Offering.

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 106,628,701 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 Announces Private Placement of up to $3.0 Million

VANCOUVER, British Columbia – May 15, 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 charity flow-through units (the “Charity FT Units”) at a price of $0.12 per Charity FT Unitand flow-through units (the “FT Units” and, collectively with the Charity FT Units, the “Offered Units”) at a price of $0.10 per FT Unit for aggregate gross proceeds of up to $3.0 million (the “Offering”).

Each Offered Unit will consist of one flow-through common share and one half of one transferable non-flow-through common share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each Warrant will be exercisable to acquire one additional non-flow-through common share of the Company for 24 months from the closing date of the Offering at an exercise price of $0.15.

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 Offered 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, 2024, 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 Offered Units effective December 31, 2023. 

The Offering is expected to close on or about June 8, 2023 and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. The Offered Securities 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 106,628,701 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 Provides Technical Update on HWY 37 Project

VANCOUVER, British Columbia, May 4, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to provide a technical update on the HWY 37 Project that includes drill targets for the 2023 field program.

Highlights:

  • Targeting work includes 3D inversions of historical IP geophysical data which has outlined untested anomalies flanking the Mary porphyry deposit.
  • Proposed drilling (~2500 m) in 2023 will focus on the Mary to Cliff porphyry trend.
  • Detailed analysis of the porphyry Cu-Au potential on the project is provided in video format.

Summary

The HWY 37 Project is a district-scale (362 km2) porphyry Cu-Au and epithermal Au-Ag project located within the Golden Triangle, northwestern British Columbia.

Planning for the 2023 field season at the HWY 37 Project is currently underway and it is expected to begin in July and includes ~2500 m of diamond drilling between the Mary Cu-Au porphyry deposit and the Cliff gossan (Figure 1).  This broad area sits within a ~6 by 6 km area of alteration and geochemical anomalism favourably located ~9 km from Highway 37.  Texas Creek intrusions at the HWY 37 Project are also responsible for porphyry Cu-Au mineralization at Treaty Creek and KSM projects. The Company notes that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the HWY 37 Project.

Figure 1: HWY 37 View

Historical work programs at Mary include 13,506 m of diamond drilling which has defined a zone of porphyry Cu-Au mineralization over 1300 m by 600 m.  Drilling focused on outcrop mineralization at the Mary deposit (‘Main Zone’, or ‘Ball Creek’) with the majority of work focused on the shallow gold-rich portions of the porphyry system (Figure 2).  Low angle copper and gold metal patterns are identified in the Mary deposit, which project untested under a unit interpreted as post-mineral volcanic cover. Comparable metal patterns are common to other system in the region including Treaty Creek and KSM projects.

Figure 2: Mary Zone: SW Drill Area

Drilling in 2023 will focus on the lateral extents of the Mary porphyry system where the Company believes there is potential for discovering a lower level, copper-rich body.  The Company recently completed a 3D inversion of historical IP geophysical data which shows a strong correlation between resistivity and historically defined mineralization (Figure 3).  The target area (Figure 4) lies south of the area of historical mineralization and hosts a large (600 m by 600 m) resistive body which is open at depth.  On trend and south of Mary and the resistivity target lies the Cliff gossan where mapping outlined a body of potassic-altered porphyry stockwork mineralization in outcrop. 

A discussion of the drill targets at the Mary deposit as well as other targets on the HWY 37 Project is summarized in a video presentation

Figure 3: Mary Zone: IP Geophysics
Figure 4: Mary Zone: Target Area

AuEQ values were calculated the following metal prices: Au = $1900.00/oz, Cu = $4.00/lb, and Ag = $25.00/oz. No current or historical metallurgical work has been completed on the mineral deposits within the Project and as such recoveries are assumed to be 100%. The formula used to calculate the equivalent values for the porphyry targets is AuEQ g/t = Au g/t + (Cu % * 1.4436) + (Ag g/t * 0.0132). The formula used to calculate the equivalent values for the epithermal targets is AuEQ g/t = Au g/t + (Ag g/t * 0.0132). 

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 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 106,628,701 shares outstanding.

For further information, please contact: 

Dustin Perry, P.Geo. 
CEO and Director
Phone:​+1 778 606 2507
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 forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Kingfisher Signs Definitive Option Agreements to Consolidate 362 Square km Copper-Gold Project in Golden Triangle, British Columbia

VANCOUVER, British Columbia, March 7, 2023 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that it has entered into two option agreements on March 6, 2023 (the “Effective Date”) to consolidate a 362 km2copper-gold project in the Golden Triangle region of NW British Columbia, subject to the approval of the TSX Venture Exchange (the “TSXV”).

Highlights

  • Two 4-year options to earn 100% of the Ball Creek East Project and the Hank Project, now referred to as the HWY 37 Project.
  • Highway 37 and the Northern Transmission Line passes through the HWY 37 Project and lies within 9–15 km of main historical zones of drilling.
  • Multiple open ended mineral deposits including the Mary Cu-Au Porphyry, the Williams Cu-Au Porphyry, and the Hank Au-Ag Epithermal deposits.
  • Same mineralization age and scale of alteration as the tier one Treaty Creek-KSM-Brucejack Trend.
  • Limited historical drilling on project outside of known deposits despite widespread soil anomalies and gossans over 17 x 9 km porphyry-epithermal footprint.
  • Located within the traditional territory of the Tahltan First Nation, with a communications agreement in place.

Dustin Perry, CEO of Kingfisher, states “The consolidation of this porphyry-epithermal district represents a significant opportunity for discovery of tier one deposits of critical and precious metals. The HWY 37 Project has a distinct advantage over much of the Golden Triangle given the proximity to infrastructure crucial to any future development. Our VP-Exploration, Gayle Febbo, and our technical advisor, Charlie Greig, have both worked in the past at the comparable KSM project and Brucejack mine, as well as the HWY 37 Project location, and have extensive knowledge of the area. We look forward to commencing exploration at the HWY 37 Project in due course.”

Gayle Febbo, VP-Exploration of Kingfisher, states “The Iskut region is host to an array of Au-rich deposit types formed at various times throughout the Mesozoic, but the most productive of these was during the emplacement of Early Jurassic Texas Creek intrusions. This suite of intrusions is known to have formed the largest gold resource globally at KSM and one of the highest-grade operating gold mines at Brucejack. The HWY 37 Project represents a rare and ideal land position with both a district-scale Cu-Au porphyry belt and superimposed Au-Ag epithermal belt caused by the same suite of intrusions as KSM and Brucejack.”

About the HWY 37 Project

The 362 km2 HWY 37 Project is in Northwest British Columbia’s Golden Triangle (Figure 1). The Stewart-Cassiar Highway (37) and the 287 kV Northwest Transmission Line pass through the eastern portion of the project. The project encompasses a broad area of porphyry Cu-Au and epithermal Au-Ag mineralization and alteration.

Figure 1: HWY 37 Location

The HWY 37 Project is located (Figure 2) within the Stikine terrane of NW British Columbia and is underlain by the Stuhini and Hazelton groups. Mineralization spans porphyry to epithermal deposit types and is related to Early Jurassic Texas Creek Intrusions which are also responsible for mineralization at the Treaty Creek-KSM-Brucejack District. The northeastern part of the project is underlain by Iskut River Formation, which also host the Eskay Creek past producing mine and are favourable for VMS mineralization. 

Figure 2: HWY 37 Overview

Historical work on the project has delineated three advanced deposits with several other targets and anomalies at earlier stages of exploration.  Historical drilling on the project has outlined the Mary porphyry, with 13,506 m of drilling, and Williams porphyry, with 6095 m of drilling. Mary and Williams porphyries are both open in multiple directions and show distinct similarities with porphyry systems along the KSM-Treaty porphyry belt. The Hank Au-Ag epithermal deposit has seen 21,623 m of exploration drilling, albeit mostly focused within a small area within the larger 6 x 3 km gold-silver anomaly. Drilling at Hank has mostly been confined to shallow depths (<200m).

The footprint of alteration on the project is at a similar scale to the Treaty-KSM-Brucejack district (Figure 3), although exploration maturity is much younger at HWY 37.

Figure 3: HWY 37 vs Treaty-KSM-Brucejack District

Mary Porphyry

The Mary Porphyry (Figure 4) was first worked in 1963 and was most recently drilled in 2019. The porphyry deposit crops out on the north and northeast slopes of a relatively flat-topped mountain. Cu-Au patterns at Mary define marked low angle trends open along trend (Fig. 4). Although unusual globally, this unique low angle Cu-Au trend is common to porphyry systems in the region, such as the Goldstorm (Treaty) and Sulphurets (KSM) deposits. Historical drilling was confined to a small percentage of the Mary porphyry footprint and has not focused on low angle ore geometries. Along the Cu-Au trends at Mary is a ~1500 m gap in drilling extending to the Cliff showing with an untested chargeability anomaly at depth (Fig 4). The Mary Porphyry footprint spans 6 x 6 km and is cored by an untested chargeability anomaly. The dimensions of this footprint are characteristic of multiple, coalesced porphyry centres and are likely too laterally extensive to be caused by the Mary deposit alone. The area is fully permitted, and the Company is planning to complete a program of detailed mapping, geophysics, and step out drilling to test a much larger area than was historically drilled.

Figure 4: Mary Porphyry Cu-Au

Williams Porphyry

The Williams Porphyry (Figure 5) was discovered by Golden Ridge Resources Ltd. (TSX.V: GLDN) (“Golden Ridge”) in 2017 and drilled from 2018-2019. Potassic alteration crops out at surface and mineralization has been traced to a depth of ~550 m. A large continuous chargeability anomaly extends from the area of drilling to the east and southeast for over 1.5 km and is yet to be drill tested. The Williams Porphyry is considered to be the high-level porphyry feeder to the Hank Au-Ag epithermal system although based on the 6 km lateral extent to the epithermal system, it is likely that more porphyry centers exist in this area. Future drilling at Williams will focus on defining the limits of the system and vectoring towards a copper-rich core zone. Low angle metal patterns at Williams and the presence of a chargeability anomaly lateral to the Williams porphyry reflect a similar pattern as the Mary deposit and those at KSM and Treaty. These patterns suggest that future drilling will favour lateral, same elevation targeting rather than vertically deeper targets. Permitting is underway with drilling anticipated in 2024.

Figure 5: Williams Porphyry Cu-Au

Hank

The Hank epithermal Au-Ag system was first discovered in 1980 and spans over 6 x 3 km. The epithermal system has seen considerable drilling (21,663m) which has been mostly confined to shallow depths (<200m). The majority of drilling has focused on bed-parallel shallow targets with limited testing for structural feeders and steeper gold zones. The most recent drilling at Hank (2017-2019) tested deeper holes and intercepted higher grades than seen before including visible coarse gold. Of the 120 historical diamond drill holes at Hank, all were drilled in a narrow northwest-southeast geometry, and none have targeted the potential for feeders along cross-structures. Future work at Hank will focus on infill drilling across the historical areas of drilling with the goal of producing a complaint resource as well as testing additional targets and exploration concepts throughout the 6 x 3 km trend. Permitting is underway for 2024 drilling.

Figure 6: Hank Epithermal Au-Ag System

Summary of Option Agreements

Ball Creek East Project

The Company has entered into a property option agreement (the “Ball Creek East Option Agreement”) with Evrim Exploration Canada Corp., a subsidiary of Orogen Royalties Inc. (TSX.V: OGN) (“Orogen”), whereby Orogen has granted Kingfisher the right to acquire a 100% interest in a series of mineral claims located in the province of British Columbia commonly referred to as the “Ball Creek East Project” (Figure 2), subject to a 2% net smelter return to be retained by Sandstorm Gold Ltd. (the “Ball Creek East NSR Royalty”) and the right to up to $4,100,000 in milestone payments.

Pursuant to the terms of the Ball Creek East Option Agreement, Kingfisher has the right to earn a 100% ownership interest in the Ball Creek East Project as follows:

  • issuing common shares with a value of $300,000 on the date that the TSXV approve the Ball Creek East Option Agreement;
  • issuing additional common shares with a value of $400,000 on or before the date which is the 1st anniversary of the Effective Date;
  • issuing additional common shares with a value of $500,000 on or before the date which is the 2nd anniversary of the Effective Date;
  • issuing additional common shares with a value of $1,000,000 on or before the date which is the 3rd anniversary of the Effective Date;
  • issuing additional common shares with a value of $1,300,000 on or before the date which is the 4th anniversary of the Effective Date;
  • granting a 1% net smelter returns royalty to Orogen in respect of the Company’s Ecstall Property on the Effective Date; and
  • in order to maintain the Ball Creek East Option Agreement in good standing until exercised to earn a 100% ownership interest in the Ball Creek East Project, Kingfisher must carry out mining work on the Ball Creek East Project incurring aggregate expenditures of $7,500,000 on or before the 4th anniversary of the Effective Date.

The Ball Creek East NSR Royalty may be bought down by Orogen at any time by one half with a cash payment of $1,000,000.

Hank Project

The Company has entered into a property option agreement (the “Hank Option Agreement”) Golden Ridge whereby Golden Ridge has granted Kingfisher the right to acquire a 100% interest in a series of mineral claims located in the province of British Columbia commonly referred to as the “Hank Project” (Figure 2), subject to a 3% net smelter return to be retained by Orogen (the “Hank NSR Royalty”) and the right to US$2,500,000 in milestone payments by Golden Ridge.

Pursuant to the terms of the Hank Option Agreement, Kingfisher has the right to earn a 100% ownership interest in the Hank Project as follows:

  • cash payment of $25,000 and issuing common shares with a value of $75,000 on the date that the TSXV approve the Hank Option Agreement;
  • issuing additional common shares with a value of $150,000 on or before the date which is the 1st anniversary of the Effective Date;
  • issuing additional common shares with a value of $300,000 on or before the date which is the 2nd anniversary of the Effective Date;
  • cash payment of $100,000 and issuing additional common shares with a value of $1,000,000 on or before the date which is the 3rd anniversary of the Effective Date;
  • cash payment of $125,000 and issuing additional common shares with a value of $1,475,000 on or before the date which is the 4th anniversary of the Effective Date; and
  • in order to maintain the Hank Option Agreement in good standing until exercised to earn a 100% ownership interest in the Hank Project, Kingfisher must carry out mining work on the Hank Project incurring aggregate expenditures of $3,000,000 on or before the 4th anniversary of the Effective Date.

Pursuant to the Hank NSR Royalty, 1% may be purchased by Golden Ridge at any time with a cash payment of US$3,000,000. Also, if the Company acquires earn a 100% ownership interest in the Hank Project, then Sandstorm will be entitled to a 2% net smelter return on the Hank Project, which may be bought down by the Company by one half with a cash payment of $1,000,000.

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 high-grade gold, copper, silver, and zinc. The Company currently has  103,057,272 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director

Phone: +1 778 606 2507
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 forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.