MetalQuest Completes Due Diligence and Elects to Proceed with the West Cameron Gold Project, Kenora Mining District, Northwestern Ontario

Core Viewpoint - MetalQuest Mining Inc. has completed its technical due diligence on the West Cameron Gold Project and is proceeding with the acquisition of a 100% interest in the project under an option agreement with Gallik Explorations Inc. [1][2] Company Developments - The completion of due diligence and the advancement of the West Cameron Gold Project signifies the establishment of a new gold exploration division for MetalQuest [2] - The company plans to host an open house on April 11, 2026, at its new field operations office in Kenora, Ontario, to engage with shareholders and interested parties [2][3] Project Details - The West Cameron Gold Project spans approximately 1,700 hectares (about 4,200 acres) and is accessible year-round via established infrastructure [8] - The project is located near First Mining Gold Corp.'s Cameron Gold Project, which has recently been acquired by Frank Giustra's Fiore Group [5][10] - Historical surface sampling at the West Cameron Project has returned gold values up to 9.18 grams per tonne (g/t) [9][12] Exploration Focus - The exploration strategy will include geological mapping, sampling, geophysical surveys, and targeted drilling to validate and expand known mineralization [9] - A new porphyry intrusive target has been identified as a key focus for follow-up exploration [9][18] Regional Context - The Kenora Mining District is noted for being underexplored but is gaining attention due to improved commodity prices and renewed interest from the industry and investors [6][10] - Recent acquisitions and investments in the region indicate a growing support for mineral exploration at various governmental levels [7] Financial Terms - MetalQuest may earn a 100% interest in the West Cameron Gold Project by making a series of cash payments and share issuances, subject to a 2% Net Smelter Return (NSR) [23] - The payment schedule includes an initial cash payment of CAD $15,000 and subsequent payments of CAD $20,000 in each of the following three years [24]