(TheNewswire)
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historical surface copper grades, addition to technical team, concurrent financing
June 27, 2025, VANCOUVER, British Columbia – TheNewswire -Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) (“Copper Quest” or the “Company”) is pleased to announce that it has entered into a Letter of Intent to acquire a copper-gold porphyry project (the “Project”) located in the Western United States, marking a new advancement in the Company’s mission to develop strategic copper assets in high-priority jurisdictions.
The Project, currently privately held, has 70 contiguous unpatented federal mining claims and may host a promising porphyry system with surface mineralization confirmed through historical chip sampling by the US Bureau of Mines, returning grades of over 3% copper, 0.8 g/t gold and 25 g/t silver. The acquisition would also bring with it a local lead geologist and turn-key technical support, providing the Company with immediate on-the-ground expertise and technical continuity as exploration begins.
While the exact location remains confidential at this time, the Project lies within a regionally significant porphyry belt known for its copper and gold potential. This acquisition aligns with Copper Quest’s broader strategy to secure and develop copper projects amid a rapidly shifting geopolitical and supply chain landscape.
Initial Work Program Objectives Include:
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Complete assays on samples from a recent sampling program
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High-resolution drone-based geophysical surveys
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Acquisition of historic but recent IP data
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Additional sampling, mapping, 3D IP Survey and Geophysics
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AI interpretation and study of project data
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Drill permitting and targeting for an inaugural drill program
“This acquisition represents a promising new venture which only complements our current portfolio of projects,” said Brian Thurston, CEO of Copper Quest. He added, “We are securing a potential porphyry system in a jurisdiction increasingly recognized as critical to the future of copper and mineral production. With significant surface mineralization, experienced on the ground technical support, and strategic alignment with North American copper supply goals, we believe this project positions Copper Quest for meaningful growth in a tightening global copper market.”
Transaction Terms and Financing
Under the terms of the Letter of Intent and subject to the completion of due diligence and the execution of a definitive agreement, Copper Quest will issue 4,250,000 common shares to the vendor, in exchange for 100% ownership of the Project. A finder’s fee payable in common shares of the Company will be applicable. The common shares of the Company to be issued in connection with the transaction will be escrowed with staged releases over 16 months from the date of closing.
As a condition to closing the transaction, the Company also announces a non-brokered private placement financing of a minimum of $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 one common share of the Company and one common share purchase warrant (“Warrant”) of the Company, with each Warrant exercisable at $0.15 for a period of two years (the “Private Placement”). Proceeds from the financing will be used to advance exploration on the new project and for general working capital purposes.
The acquisition of the Project and completion of the Private Placement are subject to the receipt of all requisite regulatory approvals, including the approval of the Canadian Securities Exchange.
Qualified Person
Brian Thurston, P.Geo., the Company’s CEO and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release.
About Copper
Copper is the backbone of the global industrial economy and an essential material in clean energy, transportation, communications, and computing infrastructure - used in electric vehicles, power grids, wind turbines, and semiconductors. Copper demand is projected to exceed supply by over 6 million tonnes by 2032 as electrification accelerates globally according to Bloomberg Intelligence's “Global Copper 2024 Industry Outlook: From near‑term glut to long‑term scarcity” report, published on December 1, 2023.
About Copper in the U.S.
Copper is increasingly viewed as a strategic and energy-critical material by the United States government. In 2025, President Donald J. Trump signed an Executive Order launching a federal investigation into the U.S. copper supply chain, aimed at reducing foreign dependence and improving domestic resource security. With billions in infrastructure and clean energy investments on the line, securing U.S.-based copper projects has become an urgent economic and geopolitical priority.
About Copper Quest Inc.
Copper Quest (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) is focused on building shareholder value through the exploration and development of its North American Critical Mineral portfolio of assets. The Company’s land package currently comprises four projects that 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 in central British Columbia’s Bulkley Porphyry Belt. Contiguous to the Stars Property Copper Quest has a 100% interest in the 5,389 ha Stellar Property. CQX also has an earn-in option up to 80% and joint-venture agreement on the 4,700 ha porphyry copper-molybdenum Rip Project, also in the Bulkley Porphyry Belt.
Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern BC which spans over 20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal mineralization potential.
Copper Quest’s leadership and advisory teams are senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Copper Quest is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which it operates. The Company’s common shares are principally listed on the Canadian Stock Exchange under the symbol “CQX”. For more information on Copper Quest, please visit the Company’s website at Copper Quest.
On behalf of the Board of Copper Quest Exploration Inc.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829
For further information contact:
Kelly Abbott
Investor Relations
Forward Looking Information
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included herein, including without limitation, statements relating the future operations and activities of Copper Quest, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, the acquisition of the Project and future exploration thereof, including any required government approvals, the merits of the Project, the completion of the Private Placement and issuance of securities in connection therewith, and the receipt of required regulatory approvals. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Copper Quest, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete the proposed Project acquisition, the results of Project exploration, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, and the ability of the Company to obtain the approvals necessary to complete the Private Placement. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
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