AuQ Gold Mining Inc. Acquires Lac Crystal Cu-Polymetallic Project in Québec’s Gaspé Peninsula
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FOR IMMEDIATE RELEASE
AuQ Gold Mining Inc. Acquires Lac Crystal Cu-Polymetallic Project in Québec’s Gaspé
Peninsula
Vancouver, British Columbia, October 20, 2025 – AuQ Gold Mining Inc. (TSXV: AUQ;
OTC: AUQFF; FRANKFURT:NWV) is pleased to announce the acquisition of the Lac
Crystal Cu -Polymetallic Project, located in the Gaspé Peninsula, Québec, from HMK
Mining, further strengthening its portfolio of high -potential assets in one of Canada’s
premier mining jurisdictions.
The Lac Crystal Project spans a 1.4 -km by 400 -m strike zone along a N340° shear
corridor in a stratovolcanic arc environment within the Appalachian orogeny. It hosts fault-
controlled copper mineralization with associated gold and silver values, occurring i n
disseminated and vein-style sulfides potentially linked to regional intrusive activity.
The Gaspé Peninsula is renowned for porphyry -related deposits, including skarn and
porphyry Cu -Mo systems at the nearby Mines Gaspé (e.g., Copper Mountain and
Porphyry Mountain), where mineralization is associated with Devonian intrusions. Given
its proximity and similar structural controls, Lac Crystal exhibits geological features
consistent with porphyry -style mineralization, including disseminated chalcopyrite and
hydrothermal alteration patterns, which warrant further exploration.
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Historical grab samples from surface trenching include 43.8% Cu, 2.65 g/t Au, and 22.8
g/t Ag (SIGÉOM: GM53210). These historical samples are selective in nature, derived
from limited trenching, and are not representative of average grades or continuous
mineralization across the property.
Summary of Historical Work (SIGÉOM GM53210)
According to the historical French-language report filed under SIGÉOM GM53210, limited
surface trenching and grab sampling were completed on the Lac Crystal property. The
work identified localized copper mineralization associated with shear -hosted and vein -
style sulfides within volcanic and intrusive rocks of the Gaspé Peninsula. Historical grab
samples returned values up to 43.8% Cu, 2.65 g/t Au, and 22.8 g/t Ag; however, these
results are selective, were collected from exposed mineralized zones, and are n ot
representative of the property as a whole. A Qualified Person has not verified these
historical data, and no mineral resources or mineral reserves have been defined on the
property. Additional mapping, systematic sampling, and drilling will be required to
determine the extent and continuity of mineralization.
No economic analysis has been performed on these results, and further systematic
sampling, drilling, and metallurgical testing would be required to assess potential
economic viability. The Lac Crystal Project currently has no mineral resources or mineral
reserves as defined by National Instrument 43 -101 (“NI 43-101”). The historical assays
reported herein have not been verified by a Qualified Person and should not be relied
upon.
Regional Context
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Located 15 –20 km from Osisko Metals’ Gaspé Copper Project, which has publicly
reported significant Cu -Mo resources, the Lac Crystal Project benefits from access to
established infrastructure, including roads, power, and proximity to ports, positioning it for
rapid exploration advancement.
By Press Release dated November 14, 2024, Osisko Metals Incorporated ( TSX-V:
OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce an updated Mineral
Resource Estimate (“MRE”) for the Gaspé Copper Project, located near Murdochville in
the Gaspé Peninsula of Quebec.
The updated MRE (Table 1) includes pit -constrained resources comprising 824 million
tonnes grading 0.34% CuEq of Indicated category and 670 million tonnes grading
0.38% CuEq of Inferred category. This MRE represents a 53% increase in copper -
equivalent metal content over the previously reported Indicated Resource and a 100-fold
increase in copper-equivalent metal content in Inferred Resources (see May 6, 2024 news
release and entitled “2024 Copper Mountain Mineral Resource Estimate”).
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At 4.91 billion pounds (2.23 million tonnes) of contained copper (Table 1) , as well as
significant molybdenum (274 million pounds) and silver (46.0 million ounces), the latest
Gaspé Copper in -pit Indicated Resource hosts by far the largest undeveloped copper -
molybdenum deposit in Eastern North America, exclusive of Inferred resources.
Table 1: Mineral Resource Estimate (MRE) Base Case at 0.12% Copper Cut-off
1. The independent qualified persons for the MRE, as defined by National Instrument
(“NI”) 43-101 guidelines, is Pierre-Luc Richard, P .Geo., of PLR Resources Inc. with
contributions from François Le Moal, P .Eng., of G-Mining for cut-off grade and Pit
shell optimization, and Christian Laroche, P .Eng., from Synectic, for metallurgical
parameters. The effective date of the MRE is November 4, 2024.
2. These Mineral Resources are not mineral reserves as they have no demonstrated
economic viability. No economic evaluation of these Mineral Resources has been
produced. The quantity and grade of reported Inferred Resources in this MRE are
uncertain in nature and there has been insufficient drilling to define these Inferred
Resources as Indicated. However, it is reasonably expected that the majority of
Inferred Mineral Resources could be upgraded to Indicated category with additional
drilling.
3. The Qualified Persons are not aware of any known environmental, permitting, legal,
title-related, taxation, socio-political, financial or other relevant issues that could
materially affect the MRE.
4. Calculations used metric units (metres, tonnes). Metal contents in the above table
are presented in percent, pounds or tonnes. Metric tonnages and pounds were
rounded, and any discrepancies in total amounts are due to rounding errors.
5. CIM definitions and guidelines for Mineral Resource Estimates have been followed.
See Cautionary Note below for copper equivalency (CuEq) values.
The reader is cautioned that information regarding the Gaspé Copper Project is provided for
geological context only and is not necessarily indicative of mineralization on the Lac Crystal
Project. Proximity to other projects does not guarantee geological, grade, or economic
similarity.
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Terms of Transaction
Under the terms of the arms-length agreement dated October 19, 2025, AuQ paid HMK
Mining $15,000 upon signing, an additional $25,000, and 60,000 common shares of AuQ
Gold Mining Inc. are due upon receipt of Exchange Approval. In addition, HMK retains a
2% Royalty of which three tranches of 0.5% may be purchased for $500,000 each.
“The acquisition of Lac Crystal enhances our strategic focus on Québec’s critical metals
sector,” said Glen Macdonald, CEO of AuQ Gold Mining Inc. “With its high-grade copper
potential, porphyry indicators, and proximity to major regional developments like Gaspé
Copper, Lac Crystal complements our Bellechasse-Timmins Gold and other Quebec gold
projects, positioning us to capitalize on rising copper demand.”
This acquisition expands AuQ’s land package in Québec, aligning with global
electrification trends driving copper prices (~$4.50/lb). The company plans to integrate
Lac Crystal into its exploration pipeline, leveraging historical data and modern techniques
to unlock its full potential.
Qualified Person
The scientific and technical information contained in this news release has been reviewed
and approved by Andrew Lee Smith, B.Sc., P.Geo. (EGBC), a Qualified Person as defined
under National Instrument 43 -101 – Standards of Disclosure for Mineral Projects. Mr.
Smith is not independent of AuQ Gold Mining Inc. by virtue of his position as a consultant
to the Company. He has reviewed the historical data, geological descriptions, and
technical content summarized herein. The Lac Crystal Project is an early -stage
exploration property; no mineral resources or mineral reserves have been defined.
Historical assay results have not been verified by the Company or by the Qualified Person
and should not be relied upon until confirmed by future work.
About AUQ Gold Mining Inc.
AUQ Gold Mining is engaged in the acquisition, exploration and development of mineral
property assets. AUQ Gold Mining recently acquired the Bellechase-Timmins gold project,
located in the Beauce region of Quebec. AUQ Gold Mining's objectives are to conduc t
exploration programs on its Quebec resource properties and to locate and develop other
properties of merit.
For Further information, please contact
Glen Macdonald, Chief Executive Officer & Director
Telephone : (604) 719-8129
Email: [email protected]
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release may contain forward-looking statements that are based on AuQ Gold
Mining Inc.'s expectations, estimates and projections regarding its business and the
economic environment in which it operates. These statements are not guarantees of
future performance and involve risks and uncertainties that are difficult to control or
predict. Therefore, actual outcomes and results may differ materially from those
expressed in these forward -looking statements and readers should not place undue
reliance on such statements. Statements speak only as of the date on which they are
made, and AuQ Gold Mining Inc. undertakes no obligation to update them publicly to
reflect new information or the occurrence of future events or circumstances, unless
otherwise required to do so by law.