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 adjoins the southeastern portion of BTU Metals’ Dixie Halo property and the northern boundary of Kinross Gold’s Bruce Lake property (Figure 1). Gold Finder (formerly GoldON) optioned the property to BTU (see news release of March 23, 2021), and they have earned a 60% interest in the property by incurring exploration expenditures that included drill testing of gold targets and a Cu-Zn-Ag-Au target.

Figure 1: Location of Pakwash North property and surrounding properties (click on image to enlarge).

BTU also entered into a series of transactions with Kinross in February 2023, including an option agreement under which Kinross may 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.

On May 20, 2025, BTU announced that Kinross had commenced a drill program targeting approximately 8,000 metres across various priority areas identified for potential gold mineralization. According to BTU's quarterly Management's Discussion and Analysis dated September 15, 2025, Kinross had completed 2819 metres of drilling in 5 holes in the eastern part of the option property. Drilling was progressing well, and Kinross indicated it expects to complete at least the planned 8,000 metres of drilling and provide BTU with quarterly reports on the progress of the program.  Should the Kinross drilling program result in a discovery near the Pakwash North claim boundary, it could enhance the exploration potential of the property.

The Property is 100% owned by BTU and Gold Finder 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.