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VANCOUVER, British Columbia, Oct. 30, 2025 (GLOBE NEWSWIRE) — 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 definitive agreement to acquire a 100% interest in the Kitimat Copper-Gold Project (the “Project”), located approximately 10 kilometers northwest of the deep-water port community of Kitimat, British Columbia.
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PROJECT OVERVIEW
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The Kitimat Copper-Gold Project covers approximately 2,954 hectares within the Skeena Mining Division of northwestern British Columbia. The Project is year-round road-accessible via a network of logging and mineral exploration roads extending north from Kitimat. The property benefits from exceptional infrastructure, being within 10 km of tidewater, 1.5 km of rail, and 6 km of high-voltage hydroelectric transmission lines.
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Geologically, the Project is situated within the Stikine Terrane, a prolific belt that hosts numerous porphyry copper-gold systems and is underlain by Late Triassic volcanic rocks intruded by Jurassic diorite and granodiorite bodies of the Coast Plutonic Complex. The Project’s principal target areas is the Jeannette Cu-Au Zone displaying alteration and mineralization interpreted to represent low-level intermediate to low-sulfidation epithermal expressions of a larger Cu-Au porphyry system.
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HISTORICAL EXPLORATION & HIGHLIGHTS
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Exploration on the Kitimat property dates back to the late 1960s, with multiple operators conducting geochemical, geophysical, and drilling campaigns. The most significant historical work was conducted by Decade Resources Ltd. (2010), which completed 16 diamond drill holes totaling 4,437.5 meters in the Jeannette Cu-Au Zone. Notable results include:
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- Hole J-7: 117.07 m grading 1.03 g/t Au, 0.54% Cu, from 1.52 m to 118.60 m.
- Hole J-1: 103.65 m grading 1.00 g/t Au, 0.55% Cu, from 9.15 m to 112.80 m.
- Hole J-2: 107.01 m grading 0.80 g/t Au, 0.45% Cu, from 6.10 m to 113.11 m.
- Hole J-8: 112.20 m grading 0.41 g/t Au, 0.33% Cu, from 11.89 m to 124.09 m.
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The mineralized intervals encountered in the 2010 drilling demonstrate continuous near-surface copper-gold mineralization extending over significant widths, remain open at depth within the Jeannette Zone, and occur within a broader hydrothermal system that is interpreted to extend laterally beyond the area tested.
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ACQUISITION DETAILS
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Under the terms of the agreement Copper Quest has until January 5, 2026 to complete a due diligence review of the Project. Upon successful review, the Company will issue 2,000,000 common shares to the vendor, Bernie Kreft, on January 6, 2026, as full consideration for the acquisition. The Project is subject to a 2.5% net smelter return (NSR) royalty, of which 40% may be repurchased by the Company for CAD $1,000,000. Copper Quest will also retain a right of first refusal on any transaction involving the sale of the remaining royalty interest. Copper Quest has until
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Mr. Kreft is a well-known Canadian prospector, entrepreneur, and former star of the Discovery Channel’s Yukon Gold television series. He has a long track record of successful mineral discoveries and project generation across British Columbia and Yukon.
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