Mr. Dale McClanaghan reports

BCM RESOURCES COMPLETES ITS AMALGAMATION WITH INLAND EXPLORATIONS LTD.

Further to its Sept. 15, Dec. 16, 2022, and Jan. 27, 2023, news releases, BCM Resources Corp. has completed its amalgamation with Inland Explorations Ltd., with BCM being the surviving entity. Pursuant to the terms of the amalgamation agreement dated Dec. 14, 2022, and approved by the shareholders of both BCM and Inland, the company issued a total 82,488,140 shares to Inland shareholders in order to consolidate a 100-per-cent ownership interest in BCM's flagship Thompson Knolls (TK) Cu-Au-Mo (copper-gold-molybdenum) porphyry project in the southwestern part of Utah, United States.

Upon completion of the amalgamation, former holders of BCM shares hold, in the aggregate, 86,685,918 resulting issuer (BCM) shares (total of 4,814,082 BCM shares held by Inland were cancelled), representing approximately 51 per cent of the outstanding resulting issuer shares, and the former holders of Inland shares now hold, in the aggregate, 82,488,140 resulting issuer shares representing approximately 49 per cent of the outstanding resulting issuer shares. As a result of the foregoing, BCM has an aggregate of 169,174,000 common shares issued and outstanding.

Inland and BCM had certain common directors and officers. As such, pursuant to the policies of the TSX Venture Exchange, Inland is a non-arm's-length party of BCM and the transaction is non-arm's-length in nature. However, such common directors do not own, in the aggregate, more than 50 per cent of the issued and outstanding securities of Inland or BCM, and accordingly the transaction does not constitute a related-party transaction pursuant to TSX-V Policy 5.9 or Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions.

"This acquisition of Inland consolidates 100-per-cent ownership of BCM's flagship Thompson Knolls asset. BCM shareholders are poised to benefit from a simplified ownership structure as we aggressively explore the large porphyry target at TK," says Dr. Sergei Diakov, president and director of BCM.

About BCM Resources Corp.

BCM Resources is a diversified Canadian mineral exploration company now focused on completing phase 1 discovery drilling of the Thompson Knolls property, its key asset. BCM also controls prospective copper, gold and molybdenum exploration projects in British Columbia. BCM Resources is managed by experienced and successful board members and advisers.

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