The Future of Iron Ore
Starts Here

Advancing high-grade DSO iron ore in Minas Gerais, Brazil's Iron Quadrangle.

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CSE:BOLT     OTCQB:PCRCF     FSE:A3D8AK
Exploration Target (Hematite DSO)
50-70 Mt
@ 55-61% Fe
Exploration Target (Itabirite)
130-170 Mt
@ 51-55% Fe
Processing Approach
Dry DSO
Conceptual dry processing approach
Jurisdiction
Minas Gerais
Brazil's Iron Quadrangle

The DSO Advantage

Direct Shipping Ore changes the economics of iron ore. Higher grade. Lower capex. Faster path to revenue. Dry processing approach.

Traditional Iron

  • ✕1B+ tons required
  • ✕US$500M+ CapEx
  • ✕Complex beneficiation
  • ✕Water intensive
  • ✕5-10 years to production
  • ✕Tailings dam required
VS

Bolt Metals DSO

  • ✓DSO hematite target grade 55-61% Fe
  • ✓Lower-capex DSO approach
  • ✓Crush & screen only
  • ✓Conceptual dry processing approach
  • ✓Direct shipping product
  • ✓No wet beneficiation contemplated
Strategic Location

Heart of Brazil's
Iron Quadrangle

70 km east of Belo Horizonte, Minas Gerais. ~613 hectares surrounded by the world's largest iron ore producers and Brazil's most established mining infrastructure.

15KM

MRS Rail Terminal

Direct rail access to export ports

16KM

Vale Brucutu

World's largest iron ore producer

26KM

ArcelorMittal Andrade

World's leading steel company

Key Advantages
  • Established Minas Gerais mining jurisdiction
  • Existing road and rail infrastructure
  • Domestic and international market access

Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Property.

Florália Project location, Iron Quadrangle, Minas Gerais, Brazil
Exploration Progress

Significant Work Completed

2024-2025 work program included airborne geophysics, geological mapping, geochemical sampling, diamond and auger drilling, and geometallurgical testing across the 613-hectare Florália claim area.

Exploration Target (Hematite DSO)
50-70 Mt
@ 55-61% Fe
Exploration Target (Itabirite)
130-170 Mt
@ 51-55% Fe
Florália high-grade hematite samples

The Florália Property is supported by an independent NI 43-101 Technical Report by Warren D. Robb, P.Geo. (BC #1001994), effective May 14, 2024, filed on SEDAR+ under Max Resource Corp. ("Max"). Max subsequently disclosed an Exploration Target of 50-70 million tonnes at 55-61% Fe (hematite DSO) and 130-170 million tonnes at 51-55% Fe (Itabirite) in its news releases dated November 15, 2024 and October 23, 2025, reviewed and approved by Tim Henneberry, P.Geo. (BC), a Qualified Person under NI 43-101 and a member of Max's advisory board.

Cautionary (NI 43-101 s.2.3): The Exploration Target is conceptual in nature; there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource. Bolt has not independently verified the Exploration Target and is not treating it as a current mineral resource or mineral reserve.

The initial Exploration Target of 8-12 Mt at 58% Fe disclosed by Max in its news release dated August 19, 2024 has been superseded by the expanded target above.

Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Property.

Sources: Max Resource Corp. news release dated November 15, 2024; Max Resource Corp. news release dated October 23, 2025; NI 43-101 Technical Report "Florália Project" by Warren D. Robb, P.Geo., effective May 14, 2024 (SEDAR+, under Max Resource Corp.).

Geophysical Surveys

Airborne hi-resolution LiDAR and magnetics. Identified mineralized zones. 140 line-km coverage.

Geological Mapping

618 observation points. Detailed banded iron formation (BIF) lens definition across the entire claim area.

Geochemical Sampling

149 samples (ALS/SGS). 131 returned grades of 50-61% Fe. Low phosphorous content ranging 0.01-0.05%.

Diamond Drilling

6 holes totaling 761m. Intersected 222m of oxidized iron formation.

Auger Drilling & Sampling

86 holes (890m total), and 274 samples analyzed by SGS Geosol laboratory.

Geometallurgical Testing

Dry magnetic separation across six bulk coarse-fraction samples produced an 8-15% Fe grade increase (range 3.4-15.2%) at ~74% average mass recovery. 100% dry processing; no water used in processing and no tailings dam.

>C$10M
Capital Raised
1,651m
Total Drilling
149
Geochem Samples
618
Mapping Points
~613 ha
Claim Area

Key Findings

  • New 1,000m x 1,500m high-grade zone identified (MAG/LiDAR)
  • Low phosphorous grades throughout deposit
  • Shallow, easily accessible (top 20-40 meters)
  • Mineralization remains open along strike and at depth and remains to be tested by further drilling
  • Max's disclosed Exploration Target expanded from an initial 8-12 Mt at 58% Fe to 50-70 Mt at 55-61% Fe (hematite DSO)
Florália geological model and drillhole locations
Investment Thesis

Why Invest in Bolt Metals

Conceptual Development Scenario
Dry DSO Production
Management's conceptual scenario contemplates dry DSO production; subject to defining a resource, study results, permitting and financing. No production decision has been made.
Size and Scale
50-70 Mt + 130-170 Mt Exploration Target
Hematite DSO and Itabirite targets as disclosed by Max Resource Corp. Conceptual; see disclosure below.
DSO Approach
Lower-Capex Model
Direct shipping ore contemplates a simpler, lower-capex development path than conventional beneficiation
Established Infrastructure
~15 km to rail
Within trucking distance of major iron ore producers in Minas Gerais
Exploration Completed
Drilling and Sampling Program
Simple mining and dry processing
Processing Approach
Dry Processing
Conceptual dry processing approach; bench-scale dry magnetic separation testing completed
Established Mining District
15 km
By rail to MRS terminal - Iron Quadrangle, adjacent to Vale and ArcelorMittal
Capital Markets Access
Raised >C$10M
Funded for near-term exploration and development activities
Processing and Environment

The Florália Advantage

Dry Magnetic Circuit

Simple crushing, screening, and dry magnetic concentration. No wet beneficiation.

Environmental Profile

Conceptual dry processing approach. EIA/RIMA underway. Landowner agreement in place. Permitting requirements subject to regulatory review.

Development Approach

Direct shipping ore contemplates a simpler, lower-capex development path. Any technical or economic study is contingent on first defining a mineral resource.

Market Access

15 km to rail. DSO hematite target grade 55-61% Fe. Potential blending value for nearby producers.

Auger drilling at Florália Project High-grade hematite at Florália Site infrastructure at Florália Project
Leadership

Leadership and Technical Advisory

Bolt Metals Corp. management and technical advisors.

Zachary Kotowych

Chief Executive Officer

Before Bolt Metals, Mr. Kotowych held corporate development roles at junior miners, most recently at Abitibi Metals, advancing the B26 Polymetallic Deposit and Beschefer Gold Project. He conducted equity research on mining at Haywood and Red Cloud Securities. Exploration experience includes Great Bear (now Kinross), Carlisle (now Alamos), and Solstice Gold. Holds an MSc in Geophysics and Honours BSc in Math and Geology from the University of Toronto.

Henrique De Sales

Director, Head of Operations (Brazil)

Mr. De Sales previously worked as an iron ore geologist with Vale and is fluent in English, Spanish, and Portuguese. He resides in Belo Horizonte, Minas Gerais. He has been responsible for developing hematite DSO mines in Brazil (1 to 3 Mtpa), including Ferro Puro, GSM and Corrego do Onca (all within 50 km of Florália).

Brett Matich

Technical Advisor / Founder of Max Iron

Mr. Matich was CEO of Aztec Resources (ASX: AZR), which developed the Koolan Island Hematite DSO Project from a flooded open cut to operations (24.9 Mt at 65% Fe); AZR was acquired by Mt Gibson Iron (ASX: MGX) in 2006. As CEO of Cervantes (TSXV: CEV) he advanced the Block 103 prospect. He is currently CEO of Operations for the Sierra Azul Project in Colombia for Freeport.

Dr. Chris Grainger

In-Country Technical Advisory

Dr. Grainger has over 25 years of experience in South America with Newmont, Ivanhoe Electric (Friedland Group), Vale, Inco and Troy Resources. He was involved with Continental Gold's Buriticá project (acquired by Zijin in 2019) and co-founded Collective Mining. He is CEO of Helius Minerals (TSXV: HHH). He resides in Brazil and is fluent in Spanish and Portuguese.

Exploration and Development Plans

Development Next Steps

The Company is planning technical and economic studies on the Florália DSO project as exploration advances. Any feasibility-level study is contingent on first defining a mineral resource. Timelines for studies, permitting, and any construction decision have not been finalized and depend on exploration results, permitting, and financing.

Targets (Conceptual)

  • A feasibility study is targeted for 2026; any construction reference is subject to a positive feasibility study and a construction decision
  • The Company is targeting production in H2 2027; subject to defining a mineral resource, completion of studies, permitting and financing. No production decision has been made
  • An anticipated production rate of approximately 1.5 Mtpa; subject to defining a mineral resource, completion of studies, permitting and financing. No production decision has been made

Planned Next Steps

  • Advancing permitting and pre-development work
  • Technical and economic studies as exploration advances
  • Continued exploration to assess resource potential
  • Any construction decision contingent on study results, permitting and financing

Management's conceptual development estimates contemplate development capital of approximately US$12 million and operating costs of approximately US$15 per tonne (Company investor presentation; conceptual estimates subject to defining a mineral resource, study results, permitting and financing). No production decision has been made.

Dry DSO
Conceptual Approach
EIA/RIMA
Licensing Underway
55-61% Fe
DSO Hematite Target Grade
Minas Gerais
Iron Quadrangle
Corporate History

Corporate Timeline

Key corporate milestones. Financing and transaction details are set out in the Company's filings on SEDAR+ (sedarplus.ca).

Listing and Restructuring

  • Listed on the CSE (CSE: BOLT) on October 24, 2017
  • 25:1 share consolidation to approximately 5.1 million shares on October 15, 2025
  • Max letter of intent announced October 23, 2025

Financings and Option

  • C$3.5 million raise at C$0.20 (warrant at C$0.40, 2-year) on November 28, 2025
  • C$6.0 million raise at C$0.31 (warrant at C$0.41, 2-year) on February 24, 2026
  • Florália Option Agreement executed May 13, 2026
Capital Structure

Capital Structure

As of May 15, 2026

ComponentDetail
ListingsCSE: BOLT · OTCQB: PCRCF · FSE: A3D8AK
Shares issuable June 24, 2026 (special warrant conversion)19,354,838
Warrants issuable June 24, 2026 (special warrant conversion)19,354,838
Option consideration to Max Iron (all-share, staged over 30 months)26,800,000 shares
Max debt settlement (shares + pre-funded warrants, subject to 24-month resale restriction)4,000,000 shares + 2,000,000 warrants

Basic and fully diluted share capital are set out in the Company's most recent filings on SEDAR+ (sedarplus.ca). On or about June 24, 2026, 19,354,838 common shares are issuable on the automatic conversion of special warrants from the Company's February 2026 financing. Live price and market capitalization are shown on the Investors page. Not financial advice.

Bolt Metals

Unlocking Brazil's
Iron Ore Potential

Focused on acquiring and developing high-grade hematite iron ore assets in Minas Gerais, Brazil.

CSE: BOLT
Canadian Securities Exchange
OTCQB: PCRCF
OTC Markets
FSE: A3D8AK
Frankfurt

info@boltmetalscorp.com   ·   1245-300 Granville St., Vancouver, BC V6C 1V4, Canada