London BTC Company Limited
15 July 2026
LONDON BTC COMPANY LIMITED
Gold Discovery In Nevada, USA
16.23 g/t Gold and 50.5 g/t Silver at surface at the Black Star Project in Nevada
Equity Issue to Consultants and EBT Distribution
London, New York, 15 July 2026 - London BTC Company Limited ("Company") (BTC: LSE, VINZF: OTCQB), the London Stock Exchange main market-listed company, is pleased to announce that it has staked 36 mineral claims at the Black Star Gold-Silver Project (the "Project", "Black Star Project" or "Black Star") in Nevada, USA. Results from initial due diligence rock chip samples collected indicate the discovery of high-grade gold at surface up to 16.23 grams per tonne (0.52 oz/t Au) and up to 50.5 g/t silver (1.62 oz/t Ag).
David Lenigas, Chairman of the Company, stated: "The Black Star Project marks another exceptional development for our growing gold portfolio in the State of Nevada. Sampling from surface at Black Star has already provided evidence of high-grade gold mineralisation, with five of the nine mineralised samples grading above 8 g/t gold across two highly prospective target areas. Black Star is the fourth project staked and the third project in the strategic Northern Nevada region, sitting just 16 miles from the 16.4 million ounce Hycroft Mine. The pace at which we are building this gold portfolio speaks for itself, and I look forward to providing further updates in the coming weeks as follow-up work and additional staking get underway."
Hewie Rattray, CEO of London BTC Company, said: "Black Star is another significant addition to our growing Nevada portfolio and further validates our strategy of building exposure to high-quality gold assets alongside our core Bitcoin mining and treasury operations. Surface assays of up to 16.23 g/t gold are an outstanding result from our initial due diligence, particularly given the extensive historical workings and the scale of the surrounding geological system. We believe Black Star has the characteristics of a highly prospective exploration project and we're excited to commence the next phase of work."
Figure 1: Black Star Project plan, Trengo District, Pershing County, Nevada
Key Points
• Results from due diligence rock chip samples collected by Schiehallion Consulting in 2026 returned high-grade gold results over some of the historical workings, including:
o BTCRK110, 16.23 g/t Au, 49 g/t Ag
o BTCRK109, 14.39 g/t Au, 35.4 g/t Ag
o BTCRK107, 10.13 g/t Au, 33 g/t Ag
o BTCRK100, 8.26 g/t Au, 50.5 g/t Ag
o BTCRK111, 8.17 g/t Au, 7.9 g/t Ag
o BTCRK108, 3.76 g/t Au, 14.5 g/t Ag
o BTCRK103, 2.16 g/t Au, 22.8 g/t Ag
o BTCRK112, 1.69 g/t Au, 6.3 g/t Ag
o BTCRK099, 1.53 g/t Au
• Black Star is the Company's fourth US gold project, staking 36 mineral claims covering 744 acres (3km2) in the historically productive Trengo District, Pershing County, Nevada. Approximately 60 miles (96 km) from Tethered Gold's Huntington-Whitman Project and 73 miles (117 km) from its Amonett-Frank Project.
• This project strengthens the Company's position in Northern Nevada, the #1 mining jurisdiction in the world (Fraser Institute, 2025) characterised by world-class deposits, a skilled local workforce and well-developed mining services.
• Two mineralised areas have been identified across 2.5km, each sampled over 50 m traverses. The strike of mineralisation is only limited by the coverage of due diligence sampling and requires immediate follow-up.
• The style of mineralisation indicates a hydrothermal system. The presence of tourmaline together with geochemistry from 1980s USGS samples produces an intrusion-related signature, suggesting a proximal fertile intrusion (USGS, MRDS-10047484). The high-grade quartz networks form a primary target, and the interpreted intrusion provides a secondary target with potential for bulk-tonnage mineralisation at depth.
• The primary target contains historical workings, including mine shafts, adits and trenches. Light rail infrastructure around the largest mine shaft suggests historical extraction of ore.
• The project geology consists of a major boundary between metavolcanics and granodiorite; extensive quartz veins exist immediately proximal and distal to the contact (USGS, MRDS-10047484). The definition of this contact is of high economic interest to the exploration teams.
• A review of available databases and technical literature identified small-scale mining activity in the 1930s and a small number of exploration trenches from the 1980s (USGS, MRDS Records). There is no public record of modern or systematic exploration.
• The Black Star Project is being actively expanded by further staking through the Company's technical adviser, Schiehallion Consulting.
The Black Star Gold-Silver Project constitutes the fourth project under the Company's US gold strategy, joining the Amonett-Frank and Huntington-Whitman projects in northern Nevada and the Teep project in southern Nevada. Black Star is the Company's third project in northern Nevada and its second in Pershing County, consolidating a regional portfolio around established mining infrastructure, sealed highways and an experienced local workforce (Figure 1). This combination supports Nevada's consistent ranking as the world's leading mining jurisdiction (Fraser Institute, 2025), providing a stable regulatory environment, reduced permitting uncertainty and a clear, predictable timeline for project advancement.
Figure 2: Black Star Project regional setting, Pershing County, Northern Nevada
Project Location
The Project sits within a global tier 1 gold producing region. Nevada accounts for the majority of United States gold output and consistently ranks among the top five gold producing jurisdictions globally (USGS, Mineral summaries, 2026). Northern Nevada hosts a dense cluster of major, mid-tier and junior gold producers operating proximal to Black Star, providing a strong foundation of mining services, contractors, drilling providers, laboratories and toll infrastructure.
The project sits 16 miles (26 km) from the Hycroft Mine (16.4 Moz Au & 562.6 Moz Ag contained from M&I), and builds on the Northern Nevada portfolio consisting of Huntington-Whitman, Amonett-Frank and the newly staked Black Star project.
Hycroft Mine, holds 16.4 Moz Au and 562.6 Moz Ag with combined measured and indicated resources of 1,530 Mt @ 0.333 g/t Au (Hycroft Mining, 2026). The project is owned by Hycroft Mining Corporation, NASDAQ: HYMC.
Sleeper Mine, has reported production (1986-1996) of 1.7 Moz Au and 2.3 Moz Ag with current measured and indicated resources consist of a total of 163.2 Mt @ 0.361 g/t Au and 4.05 g/t Ag for 1.9 Moz Au and 21.2 Moz Ag (, 2023), owned by Paramount Gold Nevada, NYSE: PZG.
Sandman Project, measured and indicated resources consist of a total of 8 Mt @ 1.17 g/t for 272 koz Au (Borealis Mining Company, 2026), owned by Borealis Mining Company, TSX: BOGO.
Goldbanks Au Project, holds an endowment of 2.56 Moz Au and 7.47 Moz Ag with current Proven and Probable Mineral Reserves consisting of a total of 166 Mt @ 0.48 g/t Au (Stone, 2010), Kinross U.S., NYSE: KGC.
The Black Star Project
Conducted as part of the Company's wider portfolio expansion strategy, the Company's geological consultant, Schiehallion Consulting, completed due diligence over the Black Star Project in June 2026. A total of 19 rock chip samples were collected by a qualified geologist and submitted for photon assay analysis at MSALABS.
Sample highlights are provided below:
Western Black Star
• BTCRK110, 16.23 g/t Au, 49 g/t Ag
• BTCRK109, 14.39 g/t Au, 35.4 g/t Ag
• BTCRK107, 10.13 g/t Au, 33 g/t Ag
• BTCRK111, 8.17 g/t Au, 7.9 g/t Ag
• BTCRK108, 3.76 g/t Au, 14.5 g/t Ag
• BTCRK112, 1.69 g/t Au, 6.3 g/t Ag
Eastern Black Star
• BTCRK100, 8.26 g/t Au, 50.5 g/t Ag
• BTCRK103, 2.16 g/t Au, 22.8 g/t Ag
• BTCRK099, 1.53 g/t Au
MSALABS dried, crushed and pulverised the samples, which were then separated into 500g jars. Utilising Chrysos Corporation's PhotonAssay™ method, results were obtained within days of submission. PhotonAssay™ holds a lower detection limit of 0.015 ppm. Samples were routinely submitted for Fire Assay as part of follow-up QA/QC to confirm the validity of high-grade results.
Figure 3: Black Star Project, historical rail structure attached to the Western Mine Shaft, proximal rock chip samples grading up to 16.23 g/t Au
The Project is comprised of 36 unpatented mineral claims over 744 acres (3 km²) (Figure 1). The staked ground focuses on the historically targeted geological contact between metavolcanics and granodiorite. The contact is targeted by shafts, adits and prospect pits. A review of government databases, technical literature and historical company reports identified limited follow-up exploration since the 1980s (USGS, MRDS Records).
The project covers a hydrothermal vein network extending through metavolcanics and granodiorite. Historical workings have previously favoured the granodiorite host, however the significance of lithology at the local scale is still to be confirmed. While surface geology and USGS records indicate a hydrothermal system, the presence of tourmaline and an intrusion-related geochemical signature in assays from the 1980s suggest the potential for a deeper intrusion derived system (USGS, MRDS-10047484). This offers a secondary major target for economic development at the Black Star Project significantly increasing prospectivity. The primary target is formed of high-grade stockwork quartz veins distal and proximal to the geological contact, and the secondary target is formed of a deeper interpreted intrusion which offers potential for bulk tonnage mineralisation at depth.
Figure 4: London BTC Company gold-silver project portfolio, State of Nevada
Fe & Cu-oxides were visible distal to the primary mine shaft, immediate follow-up sampling is required to fully understand the extent of mineralisation. There is 2.5 km of underexplored ground between the two primary target zones. The full extent of mineralisation within the project area is not currently understood. Geological mapping and systematic rock chip sampling should provide further insight into the economic potential of the Black Star Project.
Forward Work Programme:
• Comprehensive rock-chip sampling of the 2.5 km corridor between target zones, clustering around quartz networks and zones of alteration.
• Geological mapping to define the structural setting and economic significance of the separate components of the mineral system.
• Compilation of geoscientific data to assist in the understanding of the local geology, alteration and structural setting and to provide drill-ready targets.
• Progression of further gold and silver project staking in Nevada and Arizona, in line with the Company's previously announced phased strategy.
Issue of Shares and Distribution of EBT Shares
In order to streamline the Company's share structure and share issue obligations prior to the Company's forthcoming annual general meeting, which is expected to be held at the end of August 2026, new ordinary shares are being issued to consultants to satisfy contractual obligations. Additionally, the Company will be distributing shares held by the Company's Employee Benefits Trust ("EBT") to its Directors and Officers.
The Company has issued 5,117,940 new ordinary shares to Schiehallion Consulting and John McMullen as consultants to satisfy fees payable under their respective consultancy agreements for services rendered relating to strategic business development and project acquisition provided to the Company.
Applications will be made for the new ordinary shares to be admitted to trading on the Main Market of theLondon Stock Exchange ("Admission"). Admission is expected to become effective on or around20 July 2026.
Upon Admission of the new ordinary shares being announced today the Company's enlarged issued share capital will consist of 363,964,033 ordinary shares, each carrying one voting right. The Company does not hold any ordinary shares in treasury. This figure may be used by shareholders as the denominator for the purposes of calculating whether they are required to notify the Company of a change in their interest in the Company's share capital pursuant to the Company's Articles of Association.
The new ordinary shares will be issued free from all liens, charges, and encumbrances and will, upon Admission, rank pari passu in all respects with the existing ordinary shares of the Company.
Furthermore, the Company has recommended to the EBT Trustees to distribute the 50,740,204 ordinary shares ("EBT Shares") held by the Company's EBT (as announced on 22 May 2025). The EBT Shares are subject to the terms of the relevant plan rules. No new ordinary shares have been issued in connection with the distribution of the EBT Shares.
The relevant FCA notifications relating to the distribution of the EBT Shares will be made by the receiving Directors and Officers and announced by the Company once received.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
The Directors of London BTC Company Limited accept responsibility for this announcement.
For further information please contact:
|
London BTC Company Limited |
Hewie Rattray, CEO David Lenigas, david@ldnbtc.com Rob Scott, Finance Director, rob@ldnbtc.com Jeremy Edelman, jeremy@ldnbtc.com |
|
First Sentinel (Corporate Adviser) |
Brian Stockbridge / Gabrielle Cordeiro / Ahmed Iqbal ahmed.iqbal@first-sentinel.com T: +44 (0) 20 3855 5551 |
|
Clear Capital Markets (Broker) |
Bob Roberts T: +44 (0) 20 3869 6080 |
|
Marex Financial (Joint Broker and Advisor) |
Angelo Sofocleous / Matt Bailey (Broking) Email: corporate@marex.com T: +44 (0) 207 655 6000 |
About London BTC Company Limited
The Company's primary listing is on the London Stock Exchange (United Kingdom) under the ticker "BTC.L" and it trades in the USA on the OTCQB under the ticker "VINZF". The Company is building up a strategic Bitcoin holding through acquiring Bitcoin as a treasury and currency management tool and through adding Bitcoin generated from its mining operations in North America. The Company currently operates Bitcoin miners hosted across multiple third-party facilities in Indiana, Iowa, Nebraska and Texas (USA) and Labrador (Canada). As part of its hedging strategy, the Company has begun building a portfolio of US gold assets in the Tier 1 gold jurisdiction of Nevada, to complement its core Bitcoin treasury and mining operations, thereby providing shareholders with exposure to two scarce and globally recognised stores of value.
Cautionary Statement
This announcement contains references to technical information sourced from third-party reports, public databases, technical literature and government reports. These historical results have not been verified by the Company, are not reported in compliance with any current Mineral Resource or Ore Reserve code and should not be relied upon as indicative of the prospectivity of the Project or any future resource, reserve or production from the Project. While the alteration and mineralisation styles observed to date show similarities to systems in the region, this comparison is conceptual only. There is no assurance that mineralisation encountered at Black Star will be comparable in scale, grade, or economic characteristics to other deposits in the district.
All of the samples discussed in this release are selective in nature with a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone.
Competent Persons Statement
The information in this report that relates to exploration results and technical information is based on information compiled by Fionnlagh (Finn) Hunter, Principal Geological Consultant, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hunter consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
References
1. Bonham, Harold F., Jr., Larry J. Garside, Robert B. Jones, Keith G. Papke, Jack Quade, and Joseph V. Tingley. A Mineral Inventory of the Paradise-Denio and Sonoma-Gerlach Resource Areas, Winnemucca District, Nevada. Nevada Bureau of Mines and Geology Open File Report 85-3. Reno: Nevada Bureau of Mines and Geology, 1985.
2. Borealis Mining Company Limited. NI 43-101 Technical Report, Sandman Gold Property, Nevada, USA. Effective date January 5, 2026; report date February 19, 2026.
3. Calkins, F. C. "Gold Deposits of Slumbering Hills." University of Nevada Bulletin 32 (1938).
4. Fraser Institute. Annual Survey of Mining Companies, 2025. Vancouver: Fraser Institute, 2026.
5. Fulton, J. A. "The Austins' Gold Mine in the Slumbering Hills." Western Mining News, 1935-1937. Article on file, Nevada Bureau of Mines and Geology.
6. Hudson, D. M. "Summary of the Geology of the Comstock District, Nevada." In Bulk Mineable Precious Metal Deposits of the Western United States: Guidebook for Field Trips, edited by J. L. Johnson, 413-18. Reno: Geological Society of Nevada, 1987.
7. Hycroft Mining Holding Corporation. Unlocking North America's Largest Precious Metals Deposits: Corporate Presentation. 1H-2026.
8. Johnson, Maureen G. Geology and Mineral Deposits of Pershing County, Nevada. Nevada Bureau of Mines and Geology Bulletin 89. Reno: Nevada Bureau of Mines and Geology, 1977.
9. Kinross Gold Corporation. 2021 Annual Mineral Reserve and Resource Statement. Toronto: Kinross Gold Corporation, 2021.
10. Noble, D. C., and J. B. McKee. Sleeper Gold Project, Humboldt County, Nevada: NI 43-101 Technical Report. 2023.
11. Sheaffer, Kristin N. "Gold." In Mineral Commodity Summaries 2026. Reston, VA: U.S. Geological Survey, 2026.
12. Stone, B. "The Goldbanks Deposit-A Recent Discovery of Disseminated Gold in Tertiary Volcaniclastics, Pershing County, Nevada." Pershing County, NV: Kinross Gold USA Inc., 2010.
13. U.S. Geological Survey. "Black Star Claim Group." Mineral Resources Data System (MRDS), no. 10047484.
14. U.S. Geological Survey. "Black Star Claim Group." Mineral Resources Data System (MRDS), no. 10197920.
15. U.S. Geological Survey. "Dottie Group." Mineral Resources Data System (MRDS), no. 10222757.
16. U.S. Geological Survey. "Heather Arising." Mineral Resources Data System (MRDS), no. 10198567.
17. U.S. Geological Survey. "J.D." Mineral Resources Data System (MRDS), no. 10150096.
18. U.S. Geological Survey. "NBMG Sample Site 2927." Mineral Resources Data System (MRDS), no. 10047486.
19. U.S. Geological Survey. "Unnamed Mine." Mineral Resources Data System (MRDS), no. 10125228.
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