Conquest Resources Announces Entering into a Share Purchase Agreement to Acquire the Valimaki Gold Project in Finland

Core Viewpoint - Conquest Resources Limited has entered into a share purchase agreement to acquire 100% of Carrigel Ltd., which owns the Valimaki Gold project in Finland, indicating a strategic move to enhance its gold exploration portfolio [1][2]. Acquisition Details - The acquisition involves issuing 5,000,000 common shares and a cash payment of $35,000 to the vendor on the closing date [2]. - A royalty agreement will grant a 2% net smelter royalty on the project to the vendor, with an option for Carrigel to purchase 1% of the royalty for $3,000,000 [2]. - An additional 5,000,000 shares will be issued upon receiving approval to commence drilling at the project [3]. Project Overview - The Valimaki Gold project is located in southwestern Finland, near Pori, with excellent year-round access and infrastructure [5]. - The project is situated within the Svencofennian geologic domain, characterized by gold mineralization associated with specific geological features [6]. Historical Exploration - Gold was first discovered in the area in the 1950s, with various exploration programs conducted by Outukumpu Oy and Geologian Tutkimuskeskus (GTK) over the decades [7]. - Notable drill results include intersections of 4.3 meters at 7.2 g/t and 7 meters at 3.9 g/t Au, indicating significant mineral potential [7]. Future Exploration Plans - Conquest plans to conduct exploration activities in the spring, including geological mapping, prospecting, drone magnetics, and induced polarization surveys to define drill targets [9]. Company Background - Conquest Resources Limited, established in 1945, focuses on mineral exploration for base metals and gold, holding interests in several projects, including the Belfast-TeckMag Project in Ontario [11][12]. - The company controls over 300 square kilometers of underexplored territory in the Temagami Mining Camp and has interests in the Alexander Gold Property and Smith Lake Gold Property [13][14].