Pakwash North Property

We optioned Pakwash North property to BTU Metals in a cash and stock transaction, they have earned an 60% interest in the property and we've retained a 40% equity stake in any future exploration success,” Greg Lytle, president of Gold Finder. 

Gold Finder owns a 40% interest in the 3,105-hectare Pakwash North property (the "Property"). Located ~36 km southeast of Red Lake, the Property (Figure 1) adjoins the southeastern portion of the Dixie Halo property owned by BTU Metals ("BTU") and the northern boundary of the Bruce Lake property owned by Kinross Gold ("Kinross"). Gold Finder (formerly GoldON) optioned the property to BTU (see news release of March 23, 2021), and BTU has earned a 60% interest in the property by incurring exploration expenditures, including drill testing of gold targets and a Cu-Zn-Ag-Au target.

Figure 1: Location of Pakwash North and associated projects (click on image to enlarge).

In February 2023, BTU entered into a series of transactions with Kinross that included an option agreement under which Kinross can earn a 70% interest in a portion of the Dixie Halo property that adjoins Kinross’s Great Bear Project (Figure 1 - property shown in red). To earn this interest, Kinross must incur $4.7 million in exploration expenditures over four years.

According to BTU Metals' news release of January 14, 2026: 

Kinross completed an initial 8,207.4 metres of drilling across 14 holes in two areas of the Dixie Halo property, and confirmed plans to complete its earn-in to 70% of that property.

Drilling in the eastern part of the Dixie Halo property outlined numerous areas of alteration favourable for gold mineralization and expanded the understanding of the geology of the TNT area (Figure 1) as well as the more northeasterly part of the property toward the Great Bear property.

Kinross's first drill hole, BTU-25-001, intersected visible gold and returned an assay interval of 2.65 g/t Au over 0.75 m; several other holes also intersected anomalous gold values and significant alteration. Other intervals in other areas returned values generally between 0.25 g/t and 1.0 g/t over intervals of around 1m. The holes were generally widely spaced, with one per general target.

The alteration and mineralization Kinross intersected in its 2025 drill program were encouraging enough for Kinross to commit to significant additional expenditures in the next phase of exploration.

According to BTU Metals' news release of February 12, 2026: 

Kinross planned to initiate a two-phase drill program on the Dixie Halo property in 2026, and indicated it plans to complete sufficient exploration work to earn the 70% interest in the property this year.

According to BTU Metals' news release of September 14, 2026:

Kinross completed 4,528.5 metres of drilling across eight holes in Phase 1 of its 2026 program. Drilling focused on the eastern part of the BTU Dixie Halo property, again in the TNT area, with gold mineralization encountered in every hole, ranging from <1g/t Au to as high as 6 g/t Au. 

Kinross has indicated it will begin Phase 2 of the 2026 drill program later this year, once equipment and technical personnel are available.

BTU and Gold Finder own the Pakwash North property on a 60%-40% basis, subject to a 1.5% net smelter returns (NSR) royalty held by EMX Royalty.

The technical information on this webpage has been reviewed and approved by Coleman Robertson, P. Geo., a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.