Fresh Funding Fuels Drill Push as Crews Arrive at Copper-Gold Project

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Pacific Empire Minerals Corp. (PEMC:TSX.V; PEMSF:OTCMKTS) announced that it has closed the second and final tranche of its previously announced non-brokered private placement while also reporting that exploration crews have mobilized to camp at its Trident property and that airborne magnetic and ground-based induced polarization (IP) surveys have been completed.

Under the second tranche, the company raised gross proceeds of CA$178,020 through the issuance of 2,967,000 non-flow-through common shares priced at CA$0.06 per share. Combined with the first tranche, which closed on May 13, 2026, the offering generated aggregate gross proceeds of CA$3,617,019.95. The second tranche and the overall offering remain subject to final approval by the TSX Venture Exchange.

The company said all common shares issued under the second tranche are subject to a statutory hold period expiring four months and one day from the date of issuance. In connection with the financing, Pacific Empire paid a cash finder's fee of CA$7,001.40 and issued 133,360 finder warrants to Canaccord Genuity Corp. Each warrant is exercisable into one common share at CA$0.06 per share for two years from the closing date.

According to the company, proceeds from the offering will be used to advance its Trident and Pinnacle copper-gold porphyry projects in north-central British Columbia, including diamond drilling, induced polarization geophysics, geological modeling, geochemistry, and general working capital purposes.

Pacific Empire also reported that exploration crews have mobilized to camp at the Trident property, marking the start of field operations for the 2026 exploration season. The program is being managed by Equity Exploration Consultants Ltd. and is intended to advance the Trident and Pinnacle projects through diamond drilling, geophysics, and geological mapping, with the Trident camp serving as the operational hub.

The company further announced completion of a high-resolution airborne magnetic survey over the northern portion of the Pinnacle property and completion of a ground-based IP survey at Trident. The IP program was designed to expand and further define a chargeability anomaly first identified in a 2014 survey. Interpretation and inversion of the expanded dataset are underway, with a further update to be provided upon completion.

President and CEO Brad Peters said in a company news release, "With the financing now fully closed and crews on the ground at Trident, Pacific Empire is establishing the exploration camp and preparing to execute on what we believe will be a transformative exploration season." He added, "The completion of both the airborne magnetic survey at Pinnacle and the expanded IP survey at Trident represents a meaningful step forward in our geophysical understanding of both properties."

What Is Driving Gold & Copper?

Gold traded at US$4,121.94 per ounce as of July 12, according to live spot pricing data. The spot price was US$132.52 per gram and US$132,523.61 per kilogram, reflecting continued strength in precious metals pricing despite day-to-day market fluctuations.

Written in a July 10 commentary published by Kitco Media, futures trader Phillip Streible wrote that "the setup for gold heading into the second half of 2026 looked constructive," even as the metal faced near-term pressure. He wrote that conflict in the Middle East had increased inflation concerns and influenced expectations surrounding U.S. Federal Reserve policy, while noting that soft June payroll data had argued: "for patience." Streible also stated that "several forces supported the constructive view," including expectations that central bank purchases would return over time and that seasonal patterns had historically shown strength through July and August.

InvestorsHub wrote on July 12 that gold had "reaffirmed its role as one of the world's leading safe-haven assets after climbing back above US$4,100 per ounce," supported by geopolitical uncertainty following renewed military tensions involving the United States and Iran. The publication stated that "continued investor demand for defensive assets" had persisted as concerns over global stability remained unresolved. It also noted that Federal Reserve policy expectations continued to influence the gold market, writing that "periods of policy uncertainty often increased demand for defensive assets such as gold," while investors simultaneously evaluated inflation risks, geopolitical developments, and the potential for slower global economic growth. InvestorsHub added that recent weakness in oil prices had weighed on the U.S. dollar and Treasury yields, providing additional support for precious metals.

According to a July 13 report from SMM, copper market fundamentals remained supported by tight supply despite the traditional seasonal slowdown in demand. The publication wrote that "it all boils down to supply," noting that social inventories had declined by about 60,000 metric tons over the previous two weeks. SMM reported that smelters continued to face challenges securing raw materials as spot copper concentrate treatment charges declined, while China's June copper cathode production unexpectedly fell by about 20,000 metric tons.

The report also stated that maintenance at large smelters during July and August was expected to keep the spot market tight, adding that "supply is indeed tight, consumption is supported," with financial factors and recent typhoon-related disruptions contributing to a widening near-month backwardation structure. SMM further wrote that imported cargo arrivals had remained scattered and smelter maintenance was "unlikely to end in the short term," making a concentrated inventory build "unlikely."

Investing.com reported later on July 13 that copper prices remained steady as the U.S. dollar weakened, while gains were limited by escalating military conflict between the United States and Iran and rising oil prices. The publication stated that "a weaker U.S. dollar makes dollar-denominated metals less expensive for buyers using other currencies, which could increase demand." It also reported that copper inventories in London Metal Exchange-approved warehouses had fallen "more than 20% since the end of May to a four-month low of 305,200 tons."

Paydirt Prospector Remained Overweight as Drilling Follow-Up Approached

According to a July 9 portfolio update from Paydirt Prospector, Jeff Clark and Daniel Flynn wrote that the broader backdrop for gold equities had become more challenging, stating that "macro worries, inflation concerns and the prospects of rate increases have weighed on sentiment, and many mining stocks have declined even while the original investment thesis has grown stronger." They added that "the setup is compelling, valuations are attractive, and the next few months will bring strong catalysts for many of our companies."

Discussing Pacific Empire Minerals specifically, Clark and Flynn wrote that the company "hit the holy grail in December with a genuinely excellent first Trident result: 183m of 1.23% copper equivalent, pointing to a potentially massive, vertically extensive porphyry system." They also stated that "the story is now stronger," noting that the company was "funded for follow-up drilling" and had "shifted its approach to look at the wider Trident-Pinnacle system as one big copper-gold opportunity." The analysts concluded, "We're overweight."

Exploration Activities Underway

With field operations underway, the company's exploration program includes diamond drilling, geophysics, and geological mapping across the Trident and Pinnacle projects. Trident will serve as the operational hub for the season's activities.

At Pinnacle, the company has completed a high-resolution airborne magnetic survey covering the northern portion of the property. At Trident, the ground-based induced polarization survey has been completed, and interpretation and inversion of the expanded dataset are in progress following work to expand a chargeability anomaly identified in 2014. 

According to the corporate presentation, the company has assembled a land position of approximately 22,700 hectares over 12 years, with drill targets developed at the 6,765-hectare Trident property and drill targets in development at the 15,929-hectare Pinnacle property. The presentation also states that the company holds a three-year area-based permit that includes 20 drill holes, road building, and geophysics.

Ownership and Share Structure¹

About 5.53% of Pacific Empire Minerals Corp. is owned by management and insiders. Private companies hold approximately 0.05%, while the rest is retail.

Its market cap is about CA$12.06 million with 268.10 million shares outstanding. It trades in a 52-week range of CA$0.02 and CA$0.20.