Copper Quest Completes Positive Alpine Due Diligence and Increases Private Placement

Core Insights - Copper Quest Exploration Inc. has completed due diligence on an Option to Purchase Agreement for the Alpine Gold Property, indicating a strategic acquisition aimed at enhancing shareholder value in a high gold market [1][4]. Acquisition Details - The Agreement involves the purchase of the Alpine Gold Property from 0847114 B.C. Ltd., which holds 100% ownership of the property located in British Columbia [1][16]. - Copper Quest plans to issue 14,177,517 common shares at a deemed price of $0.175 per share to Privco upon closing, along with a cash payment of $225,000 for prior expenditures [16][17]. Property Highlights - The Alpine Gold Property spans 4,611.49 hectares and is situated approximately 20 kilometers northeast of Nelson, British Columbia [3]. - Historical production includes approximately 16,810 tonnes of mineralized vein material, yielding 356,360 grams of gold and 222,054 grams of silver [3]. - The property contains several significant vein systems, including Black Prince, Cold Blow, Gold Crown, and King Solomon, which will be explored further [3][5]. Resource Potential - An inferred resource of 268,000 tonnes was estimated in 2018, with an average grade of 16.52 g/t Au, representing approximately 142,000 ounces of gold [5]. - There is a potential near-term cash flow opportunity from an estimated 24,000 tonnes of mineralized stockpile on the surface [5]. Leadership and Expertise - The company has appointed Mr. Allan Matovich to the Board of Directors, who has over 60 years of mining experience and is the principal owner of the Alpine Gold Property [7][8]. - Mr. Ted Muraro and Mr. John Mirko will also join as Technical Advisors, bringing a combined experience of over 100 years in the mining industry [10][13]. Financing and Future Plans - Copper Quest recently closed approximately $2 million in financing to support exploration efforts across its properties [4]. - The company plans to issue up to 1,500,000 flow-through shares at a price of $0.19 per share to raise additional funds for exploration [19][20].