Copper Quest Signs Auxer Gold Property Option Agreement To Expand US Operations

Core Viewpoint - Copper Quest Exploration Inc. has entered into an Option to Purchase Agreement to acquire 100% of the AUXER Gold Property in Idaho, enhancing its exposure to gold and copper assets in North America [1]. Group 1: AUXER Gold Property Overview - The AUXER Gold Project is located in Bonner County, Idaho, approximately 4 miles northeast of Hope, covering 2,687 acres with 130 unpatented lode claims [3]. - The project is situated in a significant structural corridor within the Hope Fault system, indicating a strong geological potential for orogenic gold deposits [4]. - Historical exploration has shown exceptional gold grades, with surface samples reporting up to 21.0 g/t Au and underground workings averaging 9.42 g/t Au at an 18-meter depth [5]. Group 2: Exploration Potential - The AUXER Gold Project has not undergone historical drilling, with previous exploration limited to underground workings from the early 20th century, presenting a unique opportunity for modern exploration techniques [6]. - The project features a 7-kilometer strike length of mineralization and has multiple high-grade ore shoots, indicating potential for substantial underground mining operations [7]. - The property is permitted for drilling and re-establishing underground access, allowing for immediate exploration activities [7]. Group 3: Transaction Details - Under the Agreement, Copper Quest will pay a non-refundable fee of USD$30,000 and issue 2,000,000 common shares at a deemed price of $0.15 per share to acquire the property [11]. - The common shares will be escrowed with staged releases over 12 months, and the transaction is subject to a 30-day due diligence period and exchange approval [11]. Group 4: Market Context - Global demand for gold remains strong due to geopolitical uncertainty and inflation, while supply growth is limited, highlighting the strategic value of advancing new gold projects in secure jurisdictions [12]. - Copper Quest is positioned to contribute to significant gold discoveries with its acquisitions, including the AUXER Gold Project and the past-producing Alpine Gold mine [9][12].