Breakthrough Minerals Raises A$8.15M to Acquire 18.8Mt Copper-Gold Project

Strategic Acquisition in a Premier Mining Region

Breakthrough Minerals Limited (ASX, BTM) has taken a significant step forward by securing a conditional binding agreement to acquire 100% of Dingo Minerals Pty Ltd, which holds the North Queensland Copper-Gold Project (NQCP) in the Mt Isa region. This acquisition brings under Breakthrough’s control a substantial land package of approximately 952 square kilometres, including 21.5 square kilometres of granted mining leases, strategically located near established processing infrastructure owned by industry giants Glencore and Harmony Gold.

The NQCP is notable for its existing global JORC (2012) Mineral Resource Estimate of 18.8 million tonnes at 1.07% copper equivalent, containing around 200,000 tonnes of copper equivalent metal. The resource spans measured, indicated, and inferred categories, with considerable potential for expansion through exploration across multiple advanced prospects.

Robust Capital Raising Supports Exploration Ambitions

To underpin the acquisition and forthcoming exploration activities, Breakthrough Minerals successfully raised A$8.15 million through a conditional placement to institutional, sophisticated, and professional investors. The placement was well-supported, including participation from all directors, who collectively invested $150,000. With approximately $4.5 million in cash at quarter-end plus the placement funds pending settlement, the company is well-capitalised to embark on a high-impact drilling campaign.

Shareholders approved the issue of placement shares, consideration shares, and performance rights at an Extraordinary General Meeting in December 2025, clearing the way for the transaction to proceed.

Experienced Leadership and Focused Exploration Strategy

Adding to the company’s momentum, Breakthrough appointed seasoned mining executive Marty Costello as a strategic advisor. Costello brings extensive experience in the Mt Isa region, which will be invaluable as Breakthrough ramps up on-ground activities and exploration programs.

The exploration strategy prioritises expanding resources at key prospects such as Turpentine, Barbara, and Mt Colin, all of which host significant copper-gold mineralisation and remain open for further discovery. Notably, the Turpentine deposit alone contains over 100,000 tonnes of contained copper equivalent metal, with mineralisation open at depth and along strike.

Additional projects within the portfolio, including the Soldiers Cap and Cloncurry projects, offer further exploration upside with multiple high-priority targets identified. Meanwhile, the company is reviewing its Canadian Llama Project for potential exit, reflecting a strategic focus on Australian assets.

Financial Discipline and Operational Outlook

During the December quarter, Breakthrough spent approximately A$165,000 on exploration activities, maintaining a disciplined approach to capital deployment. Related party payments, including directors’ fees and consulting services, totalled around A$160,000, consistent with prior disclosures.

The company ended the quarter with a cash balance of approximately A$1.36 million, supplemented by the forthcoming placement proceeds, providing an estimated 3.75 quarters of funding for ongoing operations and exploration.