Copper Quest Completes Acquisition of Past Producing Alpine Gold Mine, Appoints New Director

Core Viewpoint - Copper Quest Exploration Inc. has successfully acquired the Alpine Gold Property, transitioning from a primarily copper-focused company to a gold-focused opportunity, aiming to leverage the current high gold market while continuing to develop its copper properties [2][4]. Acquisition Details - The acquisition includes a 4,611.49-hectare property located approximately 20 kilometers northeast of Nelson, British Columbia, which previously operated as an underground mine with recorded production of about 16,810 tonnes of mineralized vein material [4][15]. - The company issued 14,177,517 common shares at a deemed price of $0.135 per share, totaling approximately $1.91 million as consideration for the property [15][16]. - Copper Quest will reimburse $225,000 towards 2025 expenditures incurred on exploring the property and has granted a 2% net smelter returns royalty to the seller [17][18]. Resource Potential - The property hosts a historical inferred resource of 268,000 tonnes with an average grade of 16.52 g/t Au, representing an inferred resource of 142,000 ounces of gold [5][4]. - There is an estimated 24,000 tonnes of Run-of-Mine mineralized stockpile on the surface, presenting a potential near-term cash flow opportunity [4][5]. - The property includes at least four additional relatively unexplored vein systems, all hosting historic high-grade gold values [4][5]. Leadership and Expertise - The company has appointed Allan Matovich, Ted Muraro, and John Mirko as key advisors, bringing over 150 years of combined mining and exploration experience [7][12][9]. - Allan Matovich has a significant history in mining and exploration, having previously owned the Alpine Gold Property and contributed to its development [7][8]. - Ted Muraro has extensive experience in mineral exploration, including significant roles at Cominco and various international gold projects [9][10]. Financial Aspects - The company has secured approximately $2 million in financing to support its exploration activities across multiple properties [2]. - A finder's fee of 587,212 common shares will be issued in connection with the acquisition, subject to a statutory hold period [19][16]. - The company intends to issue 218,620 common shares to settle outstanding debt for services previously provided, also subject to a statutory hold period [20][21].