IMIMF - Copper Quest Acquiring New Copper-Gold Porphyry Project In The United States
(TheNewswire)
historical surface copper grades, addition to technicalteam, concurrent financing
June 27, 2025, VANCOUVER, British Columbia – TheNewswire - Copper Quest Exploration Inc. (CSE:CQX; OTCQB: IMIMF; FRA: 3MX) (“ Copper Quest ” orthe “ Company ”) is pleased to announce that it hasentered into a Letter of Intent to acquire a copper-gold porphyryproject (the “ Project ”) located in the Western UnitedStates, marking a new advancement in the Company’s mission todevelop strategic copper assets in high-priority jurisdictions.
The Project, currently privately held, has 70contiguous unpatented federal mining claims and may host a promisingporphyry system with surface mineralization confirmed throughhistorical chip sampling by the US Bureau of Mines, returning gradesof over 3% copper, 0.8 g/t gold and 25 g/t silver. The acquisitionwould also bring with it a local lead geologist and turn-key technicalsupport, providing the Company with immediate on-the-ground expertiseand technical continuity as exploration begins.
While the exact location remains confidential at thistime, the Project lies within a regionally significant porphyry beltknown for its copper and gold potential. This acquisition aligns withCopper Quest’s broader strategy to secure and develop copperprojects amid a rapidly shifting geopolitical and supply chainlandscape.
Initial Work Program ObjectivesInclude:
Complete assays on samples from a recent samplingprogram
High-resolution drone-based geophysicalsurveys
Acquisition of historic but recent IP data
Additional sampling, mapping, 3D IP Survey andGeophysics
AI interpretation and study of project data
Drill permitting and targeting for an inaugural drillprogram
“This acquisition represents a promising new venturewhich only complements our current portfolio of projects,” saidBrian Thurston, CEO of Copper Quest. He added, “We are securing apotential porphyry system in a jurisdiction increasingly recognized ascritical to the future of copper and mineral production. Withsignificant surface mineralization, experienced on the groundtechnical support, and strategic alignment with North American coppersupply goals, we believe this project positions Copper Quest formeaningful growth in a tightening global copper market.”
Transaction Terms andFinancing
Under the terms of the Letter of Intent and subject tothe completion of due diligence and the execution of a definitiveagreement, Copper Quest will issue 4,250,000 common shares to thevendor, in exchange for 100% ownership of the Project. A finder’sfee payable in common shares of the Company will be applicable. Thecommon shares of the Company to be issued in connection with thetransaction will be escrowed with staged releases over 16 months fromthe date of closing.
As a condition to closing the transaction, the Companyalso announces a non-brokered private placement financing of a minimumof $1,000,000, consisting of at least 13,333,334 units of the Company(“ Units ”) priced at $0.075 per Unit. Each Unit shall comprise onecommon share of the Company and one common share purchase warrant(“ Warrant ”) of the Company, with each Warrant exercisable at $0.15for a period of two years (the “ Private Placement ”). Proceeds from the financing will be used to advanceexploration on the new project and for general working capitalpurposes.
The acquisition of the Project and completion of thePrivate Placement are subject to the receipt of all requisiteregulatory approvals, including the approval of the CanadianSecurities Exchange.
Qualified Person
Brian Thurston, P.Geo., the Company’s CEO and aQualified Person as defined by National Instrument 43-101 Standards of Disclosure for MineralProjects , has reviewed and approved thetechnical information in this news release.
About Copper
Copper is the backbone of the global industrial economyand an essential material in clean energy, transportation,communications, and computing infrastructure - used in electricvehicles, power grids, wind turbines, and semiconductors. Copperdemand is projected to exceed supply by over 6 million tonnes by 2032as electrification accelerates globally according to Bloomberg Intelligence's “Global Copper 2024 Industry Outlook: From near?term glut tolong?term scarcity” report, publishedon December 1, 2023 .
About Copper in the U.S.
Copper is increasingly viewed as a strategic andenergy-critical material by the United States government. In 2025,President Donald J. Trump signed an Executive Order launching afederal investigation into the U.S. copper supply chain, aimed atreducing foreign dependence and improving domestic resource security.With billions in infrastructure and clean energy investments on theline, securing U.S.-based copper projects has become an urgenteconomic and geopolitical priority.
About Copper Quest Inc.
Copper Quest (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) isfocused on building shareholder value through the exploration anddevelopment of its North American Critical Mineral portfolio ofassets. The Company’s land package currently comprises four projectsthat span over 40,000+ hectares in great mining jurisdictions.
Copper Quest has a 100% interest in the Stars Property,a porphyry copper-molybdenum discovery, covering 9,693 hectares incentral British Columbia’s Bulkley Porphyry Belt. Contiguous to theStars Property Copper Quest has a 100% interest in the 5,389 haStellar Property. CQX also has an earn-in option up to 80% andjoint-venture agreement on the 4,700 ha porphyry copper-molybdenum RipProject, also in the Bulkley Porphyry Belt.
Copper Quest has a 100% interest in the Thane Projectlocated in the Quesnel Terrane of Northern BC which spans over 20,658ha with 10 high-priority targets identified demonstrating significantcopper and precious metal mineralization potential.
Copper Quest’s leadership and advisory teams aresenior mining industry executives who have a wealth of technical andcapital markets experience and a strong track record of discovering,financing, developing, and operating mining projects on a globalscale. Copper Quest is committed to sustainable and responsiblebusiness activities in line with industry best practices, supportiveof all stakeholders, including the local communities in which itoperates. The Company’s common shares are principally listed on theCanadian Stock Exchange under the symbol “CQX”. For moreinformation on Copper Quest, please visit the Company’s website at Copper Quest .
On behalf of the Board of CopperQuest Exploration Inc.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829
For further informationcontact:
Kelly Abbott
Investor Relations
Forward Looking Information
This news release contains certain “forward-lookinginformation” and “forward-looking statements” (collectively,“ forward-lookingstatements ”) within the meaning of applicablesecurities legislation. All statements, other than statements ofhistorical fact included herein, including without limitation,statements relating the future operations and activities of CopperQuest, are forward-looking statements. Forward-looking statements arefrequently, but not always, identified by words such as “expects”,“anticipates”, “believes”, “intends”, “estimates”,“potential”, “possible”, and similar expressions, orstatements that events, conditions, or results “will”, “may”,“could”, or “should” occur or be achieved. Forward-lookingstatements in this news release relate to, among other things, theacquisition of the Project and future exploration thereof, includingany required government approvals, the merits of the Project, thecompletion of the Private Placement and issuance of securities inconnection therewith, and the receipt of required regulatoryapprovals. There can be no assurance that such statements will proveto be accurate, and actual results and future events could differmaterially from those anticipated in such statements. Forward-lookingstatements reflect the beliefs, opinions and projections on the datethe statements are made and are based upon a number of assumptions andestimates that, while considered reasonable by Copper Quest, areinherently subject to significant business, economic, competitive,political and social uncertainties and contingencies. Many factors,both known and unknown, could cause actual results, performance orachievements to be materially different from the results, performanceor achievements that are or may be expressed or implied by suchforward-looking statements and the parties have made assumptions andestimates based on or related to many of these factors. Such factorsinclude, without limitation, the ability to complete the proposedProject acquisition, the results of Project exploration, the possibility that the Company may not be able to securepermitting and other governmental clearances necessary to carry outthe Company's exploration plans, and the abilityof the Company to obtain the approvals necessary to complete thePrivate Placement. Readers should not place undue reliance on theforward-looking statements and information contained in this newsrelease concerning these items. The Company does not assume anyobligation to update the forward-looking statements of beliefs,opinions, projections, or other factors, should they change, except asrequired by applicable securities laws.
The Canadian Securities Exchange has not reviewed,approved or disapproved the contents of this press release, and doesnot accept responsibility for the adequacy or accuracy of thisrelease.
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