Thunderbird Minerals Corp. (TSXV: BIRD) has entered into a share exchange agreement dated November 2, 2026, to acquire all issued and outstanding shares of 1563963 B.C. Ltd., whose sole material asset is an exclusive option to acquire a 100% interest in the Big Onion copper-molybdenum property near Smithers, British Columbia. The transaction is valued at aggregate deemed consideration of $3,200,000, to be satisfied through the issuance of 20,000,000 Thunderbird common shares at a deemed price of $0.16 per share. The deal expands Thunderbird's British Columbia copper footprint and, subject to closing conditions, would give the company indirect access to a historically explored porphyry-belt project spanning approximately 4,493.18 hectares.

Key Points

  • Thunderbird Minerals Corp. (TSXV: BIRD) announced the share exchange agreement on November 3, 2026
  • The company will issue 20,000,000 common shares at $0.16 each to acquire TargetCo, which holds an option on the Big Onion copper-molybdenum property
  • Remaining option obligations include cash payments totalling $350,000, up to 2,000,000 Thunderbird shares to Deep Core, and cumulative exploration expenditures of $2,000,000 within 48 months of closing
  • Investors may be watching for TSX Venture Exchange acceptance of the transaction and the updated technical report

Big Onion Property Location and Historical Exploration Context

The Big Onion property is situated approximately 16 kilometres east of Smithers, British Columbia, within the Omineca Mining Division, and comprises 13 mineral claims. The project is road accessible and sits within the Babine porphyry belt. Historical exploration dating to the 1960s has included geological mapping, geochemical and geophysical surveys, and extensive diamond and percussion drilling. More recent work includes soil sampling and an unmanned aerial vehicle magnetic survey completed in 2021, followed by additional soil sampling and prospecting in 2022. The updated technical report, prepared by qualified person Brady Clift, P.Geo., carries an effective date of October 21, 2026, and does not establish a current mineral resource on the property.

Transaction Structure and Remaining Option Obligations

Under the share exchange agreement, Thunderbird will acquire all 3,160,000 shares of TargetCo in exchange for 20,000,000 Thunderbird common shares. To fully exercise the option and acquire a 100% interest in the property, TargetCo must make additional cash payments of $150,000 by April 7, 2027, and $200,000 by April 7, 2028. Share issuances of an aggregate 2,000,000 Thunderbird common shares are scheduled in four tranches to Deep Core Resources Inc. The property is also subject to an aggregate 3.0% net smelter return royalty, with provisions allowing incremental royalty reductions at $250,000 per 0.25% reduction.

Thunderbird's Planned Phase 1 Exploration Programme at Big Onion

Subject to closing, Thunderbird expects to spend approximately $250,000 in qualifying exploration expenditures on the property during the first 12 months following closing. The Phase 1 programme will focus on compiling and reviewing the historical exploration dataset and conducting additional geophysical surveying, potentially including magnetotelluric or deep induced-polarization techniques to investigate mineralisation at depth. Results are intended to refine the geological interpretation and prioritise targets for possible follow-up drilling. The company stated that any subsequent drilling programme will depend on Phase 1 results and remains subject to financing availability, permitting, and other customary considerations.