Dr. Sergei Diakov reports

BCM UPDATES ON PHASE 3 DRILLING PROGRAM AT THE TK GREENFIELD CU-AU PORPHYRY PROJECT, UTAH, USA

BCM Resources Corp. has provided an update for its shareholders about the advances in its exploration drilling program at Thompson Knolls (TK) greenfield Cu-Au-Ag-Mo (copper-gold-silver-molybdenum) porphyry system in southwestern Utah, United States. Diamond drilling is successfully advancing drill testing of the deep porphyry and skarn targets previously described in the company's press release dated Oct. 12, 2022. The greenfield TK Cu-Au-Ag-Mo porphyry project is located approximately 210 kilometres southwest of Rio Tinto's giant Bingham Canyon porphyry copper-molybdenum-gold mine and smelter complex near Salt Lake City, Utah. It is accessed by a highway and then by a network of gravel roads.

Dr. Sergei Diakov, president, stated: "We continue advancing our phase 3 drilling program with two drill holes recently completed and a third hole in progress. Drilling intercepted mineralization in the porphyry intrusion and surrounding skarns beneath the postmineral cover. A significant skarn intercept in hole TK8, with a strong presence of sulphide mineralization, is very encouraging. We are looking forward to potentially exciting results from this drilling program."

The TK8 drill hole is completed but failed to reach target depth. This hole was vertical (90 degrees) and located on the mineralized trend from drill holes TK1, TK3a and TK5. Hole TK8 had a projected target depth of 4,000 feett (1,220 metres). The drill hole crossed a 1,484-foot-thick (452 m) postmineral fanglomerate cover and then encountered a package of limestones, mudstones and sandstones. Significantly, the limestones contain a well-developed diopside-marble skarn. The upper parts of this skarn are oxidized then, farther into the skarn, drilling encountered a very intense sulphide-rich magnetite breccia in skarns stretching for over a 1,021.5 feet (313 m) interval. Locally, sulphide mineralization consists of pyrite (average 10 per cent)-pyrrhotite (average 8 per cent)-chalcopyrite (average 5 per cent) and is developed as clots/patches within massive magnetite breccias and in halos as disseminated mineralization. Unfortunately, after encountering a fault zone at depth of 3,021.5 feet (921 m) drillers lost the hole. The bottom of the hole was still in good skarn mineralization with its extension remaining open in all directions. The contact between the skarn and porphyry intrusion has not been tested and remains a compelling target.

The TK7 drill hole was also drilled vertically (90 degrees) through a 1,250-foot-thick (381 m) postmineral cover unit of semi-consolidated fanglomerates with numerous sandy horizons, which presented a significant drilling challenge. Below the fanglomerates, drilling intersected mineralized quartz-monzonite porphyry (QMP) intrusion until the end of the hole. The QMP unit has three alteration types: i) illite-chlorite (propylitic); ii) quartz-sericite-pyritic (QSP) alteration (phyllic), and; iii) patchy biotite-K feldspar (potassic). Mineralization is documented as poorly mineralized quartz-pyrite-chalcopyrite stockwork veining and disseminated mineralization. Drilling of TK7 was stopped in a fault zone at a depth of 2,641 feet (804.98 m).

The company is currently advancing the TK9 drill hole, which is expected to test the possible eastern extension of well-mineralized skarn at TK6.

Drill core with mineralization is being cut by a diamond saw and sample preparation for the mineralized intervals is under way. Assaying for standard ICP (inductively coupled plasma) and gold fire assay package will be done at ALS Global.

The company is planning to expand the scope of its exploration program at TK in 2023. To accommodate this larger program, it has prepared a plan of operation (PoO), and submitted the proposal to Utah BLM (Bureau of Land Management) and the Utah Division of Oil, Gas, and Mining for their review and approval. The proposal was accepted by both the Utah government and BLM agencies. Approval of the plan will allow the company to significantly increase exploration drill testing of the northern and southern portions of the TK property.

Qualified person

The company's director, Richard R. Redfern, MSc, certified professional geologist, is a qualified person for the purposes of National Instrument 43-101, and has verified and approved the information contained in this news release.

About BCM Resources Corp.

BCM Resources is a diversified Canadian mineral exploration company focused on the continued exploration of the Thompson Knolls porphyry Cu-Au-Mo project. 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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