Conquest Resources Signs LOI to Acquire the Valimaki Gold Project in Finland

Core Viewpoint - Conquest Resources Limited has signed a Letter of Intent (LOI) to acquire 100% of Carrigel Ltd., which owns the Valimaki Gold Project in Finland, indicating a strategic move to enhance its gold exploration portfolio [2][10]. Project Overview - The Valimaki Gold Project spans 23,197 hectares in southern Finland and features a 15-kilometer trend of gold-rich boulders, with over 150 boulders sampled showing assays greater than 1 g/t Au, and some as high as 60 g/t Au [3][6]. - The project is situated in a geologically favorable area, located between the Kynsikangas and Kankaanpää Shear Zones, with gold mineralization associated with various geological formations [7]. Exploration Plans - Conquest plans to initiate exploration activities in spring 2026, including geological mapping, prospecting, drone magnetics, and induced polarization surveys to define drill targets [4][10]. - Drill testing is scheduled for late summer and fall 2026, contingent upon obtaining the necessary permits [4]. Historical Context - Gold was first discovered in the Valimaki area in the 1950s, with intermittent exploration conducted by Outukumpu Oy and Geologian Tutkimuskeskus (GTK) until the 2010s, which included approximately 2,800 meters of diamond drilling [8][9]. - Notable historical drill results include intersections of 4.3 meters at 7.2 g/t Au and 7 meters at 3.9 g/t Au, highlighting the area's potential for gold mineralization [8]. Commercial Terms - The acquisition terms include a cash payment of CAD 35,000 upon TSXV approval, issuance of 5 million common shares upon formal agreement, and a 2% Net Smelter Royalty, with 1% being buyable for CAD 3 million [17].