Explorer Secures 100% of BC Copper-Gold-Silver Property While Upsizing Private Placement to CA$1.08M

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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.

ExGen Resources Inc (EXG:TSXV; BXXRF:OTCMKTS) reported that the TSX Venture Exchange approved an extension and upsize of its private placement to as many as 10,081,000 units at CA$0.10 per unit for gross proceeds of CA$1,081,000.

The company said it intends to complete the second tranche of the upsized offering on or around August 21, 2026. The financing follows ExGen's June 9 and June 25, 2026, news releases concerning the offering.

ExGen also reported that it amended and exercised its option to earn a 100% interest in the MacRex property in British Columbia. Under the amended option, ExGen paid CA$200,000 to the optionor on August 14, 2026, satisfying all remaining cash obligations and exploration expenditures under the original option agreement.

Chief Executive Officer Jason Riley said the amended terms reduced the payments and expenditures previously required under the option.

"With this last round of the financing, we now have the treasury flexibility to strategically unlock the value of our properties," Riley said. "We are further pleased to have negotiated this amended exercise for MacRex. This amendment saves ExGen CA$350,000 in cash payments and the entire CA$1,500,000 in expenditures that were previously required over the life of the option."

MacRex is located in British Columbia's Alberni Mining District, approximately 20 kilometers from Port Alberni. According to ExGen, a series of logging roads reaches a significant portion of the property. The property has been subject to exploration dating to the 1980s, and a number of copper, gold, and silver showings have been recorded throughout it.

MacRex surrounds the Mactush property, which was optioned in 2024 for approximately CA$625,000. ExGen said it reviewed reports and assessment filings on Mineral Titles and determined that MacRex would complement its property portfolio.

Gold and Silver Rally as Copper Supply Tightens

Trading Economics reported on August 21 that silver traded above US$68 per ounce and was headed for a third consecutive weekly gain as investors moved toward safe-haven metals amid volatility in currency and bond markets.

Silver had gained more than 5% during the week after the U.S. Treasury Department announced plans to at least double its long-term debt buybacks, a move that drove Treasury yields and the U.S. dollar lower. Trading Economics also cited rising oil prices and associated inflationary risks as factors affecting the market.

Silver traded at US$69.34 per ounce at the time of the report, up 1.86% for the day. The metal had gained 16.06% over the preceding month and 78.17% over the preceding year.

According to an August 20 report from Bloomberg, gold was headed for a third consecutive weekly gain as the U.S. Treasury's increased purchases of long-dated government debt weighed on yields and the U.S. dollar. Bullion traded around US$4,530 per ounce and was positioned to end the week more than 3% higher.

Bloomberg reported that the Treasury's liquidity injection had supported bullion as concerns surrounding government debt remained a factor in the gold market. The report described those concerns as "one of the themes that propelled gold's earlier multi-year rally as investors sought alternative safe havens."

Gold had risen approximately 11% during the month. Bloomberg also reported that the metal had remained above US$4,000 per ounce since mid-July, when buying followed a decline in June.

Reuters reported on August 21 that gold had reached a near three-month high and was headed for its third straight weekly advance. Gold was up 4.2% for the week at the time of the report, with a weaker U.S. dollar and changes in Treasury yields supporting precious metals.

"We've seen the dollar weakening and that has supported not just gold but all precious metals, along with a big change in yields," Brian Lan, managing director of GoldSilver Central, told Reuters.

The dollar was also headed for a weekly loss, according to Reuters. U.S. Treasury Secretary Scott Bessent said the government could further increase repurchases of Treasury securities after the Treasury announced plans to double buybacks of longer-dated securities over the following quarter to at least US$4 billion per operation.

Trading Economics reported on August 21 that gold was trading above US$4,500 per ounce and remained on course for a third consecutive weekly gain. Its data showed the metal gaining 11% over the preceding month and 35.92% over the preceding year.

The source attributed support for gold to safe-haven demand amid volatility in currency and bond markets, along with investment demand and central bank buying. "Gold remained supported by robust investment demand and continued central bank purchases, particularly from China," Trading Economics reported.

Trading Economics described gold as "one of the most widely followed precious metals" and noted its use as a safe-haven asset during periods of economic uncertainty, inflation, and geopolitical risk. Financial markets, jewelry consumption, and industrial use were identified as sources of demand.

Copper markets, meanwhile, were experiencing tight physical supply conditions. In an August 19 Reuters commentary, Andy Home reported that the premium for cash copper over three-month delivery on the London Metal Exchange had reached US$545 per metric ton, marking the widest backwardation since 2021. The cash copper price reached a record US$14,912 per metric ton.

LME copper stocks had ended the previous week at a six-month low of 207,825 metric tons. Livestocks stood at 103,075 metric tons after almost half of the inventory was represented by canceled warrants.

"The combination of low stocks and large cash positions created the perfect storm for short position holders, some of whom have scrambled to deliver physical metal to cover their exposure," Home wrote.

A total of 38,150 metric tons of copper was subsequently delivered into the LME warehouse system over three days, easing the immediate squeeze. Reuters reported that U.S. warehouses accounted for 58% of global exchange copper inventory at the end of July.

Trading Economics reported on August 21 that copper futures had moved above US$6.50 per pound, recovering earlier weekly losses as "tight physical supply continued to underpin prices." Copper had gained 1.95% over the preceding month and 47.88% over the preceding year.

According to Trading Economics, months of inventory outflows had been partly linked to metal being diverted to the United States ahead of anticipated tariffs. Chile also expected copper production to decline during the year as disruptions affected mines and development projects. Recent deliveries into LME warehouses had eased what the source described as a "historic supply squeeze."

Third Party Highlights ExGen's Silver Royalty

In an August 15 edition of "What Is Chen Buying? What Is Chen Selling?" Chen Lin said he had recently been buying ExGen Resources while picking up junior resource companies at discounted prices.

"I have been picking up good juniors at deeply discounted prices since I came back, especially those that have a lot of news in September," Lin wrote. "I have been picking up PRNC.cn, EXG.v last week."

Lin specifically highlighted ExGen's royalty exposure. "EXG, ExGen is a royalty company that its silver royalty alone should be worth a few times the current market cap."

He also pointed to an upcoming September appearance, writing, "Both are going to present on my panel in September MIF in September."

Empire, DOK, and Portfolio Work Outline Additional Milestones

ExGen's corporate presentation identified potential Empire construction funding, a DOK work program, and a strategic lithium acquisition among its stated catalysts. The company also said it would continue identifying mineral exploration and production companies with the objective of reaching option agreements on other projects. ExGen was also evaluating potential acquisition targets, including projects and other junior resource companies.

At the Empire Mine project in Idaho, ExGen holds a 20% carried interest. The 8,034-acre copper, gold, and silver project was listed at the pre-feasibility study and permitting stage, with the company's presentation identifying the partner securing construction funding and permits as catalysts.

ExGen said the mine is situated mainly on patented land and that extensive environmental baseline data had already been recorded. The presentation listed permitting, funding, opening the portals, and underground drilling of the sulphide zone among the targeted activities.

The Empire operating plan targets processing 4,000 tonnes of ore per day with a life-of-mine strip ratio of 1.69:1. The planned process consists of flotation followed by cementation and is designed to process both oxide and sulphide ores.

The presentation reported an eight-year life of mine for the initial open pit, with after-tax cumulative net cash flow of US$132 million and an after-tax internal rate of return of 40.2%. Price assumptions as of September 18, 2024, were US$4.45 per pound copper, US$2,335 per ounce gold and US$27.25 per ounce silver.

At the DOK project in British Columbia's Golden Triangle, the presentation listed ExGen's position as a 40% interest and a 2% net smelter return royalty, with the partner still required to make cash and share payments to complete its earn-in. The project was listed as having multiple drill holes with ore-grade intercepts, while bringing in a major mining company as a partner was identified as a catalyst.

The presentation described multiple district-scale porphyry copper-gold targets at DOK to be advanced. It also reported that drilling had reached the copper-bearing portion of a porphyry system over a 700-meter strike. Four drill holes tested a three-kilometer trend, with all four encountering porphyry alteration and mineralization.
At Spark North in Nevada, ExGen said it was planning a work program to prove up drill targets. The lithium property covers 2,300 acres and was listed as having no prior exploration.  

ExGen's presentation also listed three properties as available for option. Buena Vista is a 1,145-acre drilled copper, gold, and silver property in Nevada. Gordon Lake is a 1,260-acre drilled gold property in the Northwest Territories with a historical resource, while Boss is a 120-acre drilled copper, gold, and silver property in Nevada.

Ownership and Share Structure¹

Management and insiders own 11.2% of ExGen Resources. The rest is retail.

ExGen has 138.2 million outstanding shares and a 52-week range of CA$0.080 to CA$0.190

Frequently Asked Questions

Why is the gold price rising in August 2026?

Gold was supported by a weaker U.S. dollar, lower Treasury yields, and safe-haven demand amid volatility in currency and bond markets. The U.S. Treasury's increased buybacks of long-dated government debt also contributed to lower yields and a softer dollar. Investment demand and continued central bank purchases were additional sources of support.

How high is the gold price in August 2026?

Gold traded above US$4,500 per ounce on August 21 after reaching a near three-month high. Bloomberg reported bullion around US$4,530 per ounce on August 20.

Is gold headed for another weekly gain?

Gold was on course for its third consecutive weekly gain as of August 21. Reuters reported that gold had climbed 4.2% for the week at the time of its report.

How much has the gold price increased in 2026?

Trading Economics reported on August 21 that gold had risen 11% over the preceding month and 35.92% over the preceding year. Bloomberg also reported an approximately 11% monthly gain.

Why are U.S. Treasury bond buybacks affecting gold prices?

The Treasury's liquidity injection sent Treasury yields and the U.S. dollar lower, according to Bloomberg, while supporting bullion prices. Reuters also cited the softer dollar and changes in yields as factors supporting precious metals.

Are central banks still buying gold?

Trading Economics reported that continued central bank purchases were supporting gold prices, particularly purchases from China.

Why is gold considered a safe-haven asset?

Trading Economics described gold as a safe-haven asset during periods of economic uncertainty, inflation, and geopolitical risk. The source also reported that investors had turned to safe-haven metals amid volatility in currency and bond markets.

Why is the copper price rising in August 2026?

Tight physical copper supply continued to support prices. Trading Economics reported on August 21 that copper futures had climbed above US$6.50 per pound after recovering losses from earlier in the week.

How high is the copper price in August 2026?

Copper futures traded above US$6.50 per pound on August 21. Reuters also reported that the LME cash copper price had reached a record US$14,912 per metric ton during a squeeze in the physical market.

What is causing the copper supply squeeze?

Copper inventories had experienced months of outflows, partly because metal was diverted to the United States ahead of anticipated tariffs, according to Trading Economics. Reuters also reported low LME inventories and large cash positions contributing to a squeeze in the physical market.

How tight are London Metal Exchange copper supplies?

LME copper stocks ended the previous week at a six-month low of 207,825 metric tons, while live stocks stood at 103,075 metric tons after almost half of the inventory was represented by canceled warrants.

What does copper backwardation show about the physical market?

The premium for cash copper over three-month delivery on the London Metal Exchange reached US$545 per metric ton, its widest backwardation since 2021, according to Reuters commentary by Andy Home.

Have new copper deliveries eased the supply squeeze?

A total of 38,150 metric tons of copper was delivered into the LME warehouse system over three days, helping ease the immediate squeeze. Trading Economics also reported that recent warehouse deliveries had eased what it described as a "historic supply squeeze."

How much has the copper price increased?

Trading Economics reported on August 21 that copper had risen 1.95% over the preceding month and 47.88% over the preceding year.

What is happening with Chile's copper production?

Trading Economics reported that Chile expected copper production to decline during the year as disruptions continued to affect mines and development projects.