Brutus Mining to Acquire Bay of Islands Hydrogen Project in Newfoundland

11:20 AM EST, 11/05/2026 (MT Newswires) -- Brutus Mining (BRU.CN) said Thursday that it is acquiring a 100% interest in the Bay of Islands Hydrogen Project in western Newfoundland for CA$100,000 in cash and 1.2-million shares. The company is acquiring the project, which is considered favorable for hosting natural hydrogen, from Benton Resources (BEX.V) and Metals Creek Resources (MEK.V). The optionors will retain a 3% gross metals returns (GMR) on the project. Brutus may buy back 1.5% of the GMR for CA$1 million, it said. The project is comprised of three licenses totaling 334 claim units with an area of 83.5 square kilometers. Brutus Mining shares were last seen down CA$0.01 at CA$0.93 on the Canadian Securities Exchange.