Conquest Announces Exercise of Royalty Option VerAI Drill Program to Commence on High Priority AI Targets
55 University Avenue, Suite 1805
Toronto, Ontario, Canada,
M5J 2H7
www.ConquestResources.com
News Release
Conquest Announces Exercise of Royalty Option
VerAI Drill Program to Commence on High Priority AI Targets
Toronto, Ontario, September 17, 2024 -- Conquest Resources Limited (TSX-V: CQR) (“Conquest”
or the “Company”) is pleased to announce that following the exercise of a Royalty Op�on Agreement by
VDI Resources LLC, a subsidiary of VerAI Discoveries Inc. (“VerAI”), a 3,000 m diamond drill program is
scheduled to commence this month on the Belfast TeckMag Project located northeast of Sudbury, Ontario.
In April 2024, Conquest entered into a Royalty Purchase and Sale Agreement with VerAI, to which
Conquest agreed to grant VerAI a 1.5% net smelter return royalty on certain target areas with
recommended drilling loca�ons generated by VerAI , u�lizing its proprietary ar�ficial intelligence (“AI”)
technology. Conquest also agreed to grant VerAI an addi�onal 1.5% NSR in return for funding a drill
program for tes�ng four targets iden�fied by VerAI on the Belfast TeckMag Project.
Mul�ple high priority drill targets have been generated using VerAI’s proprietary AI technology. The targets
are located proximal to where Conquest discovered highly anomalous hydrothermal copper mineraliza�on
through drilling in 2021 and 2022 (See news release dated October 20, 2021) . This mineraliza�on and
associated altera�on in drill core was interpreted to be related to a hydrothermal system capable of
forming iron-oxide-copper-gold (IOCG) ore and affiliated deposits.
Thomas Obradovich, CEO of Conquest stated , “VerAI has completed a thorough analysis covering our
Belfast TeckMag Project using their AI technology incorporating our own data into their proprietary model.
The work has identified seven separate areas that have a similar signature to the geological setting at the
past-producing Copperfields Mine. Drilling will commence later this month on four of the highest priority
targets identified by VerAI.”
QUALIFIED PERSON
The technical informa�on presented in this news release has been reviewed and approved by Joerg
Kleinboeck, P .Geo., a qualified person as defined by Na�onal Instrument 43-101 - Standards of Disclosure
for Mineral Projects.
ABOUT CONQUEST
Conquest Resources Limited, incorporated in 1945, is a mineral exploration company that is
exploring for base metals and gold on mineral properties in Ontario.
Conquest holds a 100% interest in the Belfast- TeckMag Project, located in the Temagami Mining
Camp at Emerald Lake, Ontario, which is believed to have exceptional exploration upside for
magmatic sulphide deposits (Cu-Ni-PGE), volcanic massive sulphides, IOCG, iron formation hosted
Au and Paleo -placer Au. The Belfast -TeckMag Project is the Company’s flagship property, evolved
from the Golden Rose Project, which was initially acquired in December 2017, and significantly
augmented through the acquisition of Canadian Continental Exploration Corp. (“CCEC”) in 2020 and
subsequent additional claim staking and purchases in its adjacent Belfast Copper Project and
TeckMag Property.
Conquest now controls over 300 square kilometers of underexplored territory in the Temagami
Mining Camp, including the past producing Golden Rose Mine at Emerald Lake.
Conquest also holds a 100% interest in the Alexander Gold Property located immediately east of the
Red Lake and Campbell mines in the heart of the Red Lake Gold Camp along the important “Mine
Trend” regional structure. Conquest’s property is almost entirel y surrounded by Evolution Mining
landholdings.
In addition, the Company holds interests in the Smith Lake Gold Property and Lake Nipigon Basin
Property.
About VerAI Discoveries, Inc.
VerAI Discoveries ("VerAI") is an AI-powered mineral discovery business revolu�onizing the way concealed
deposits are discovered. VerAI’s mission is to discover the cri�cal minerals essen�al to the green -energy
transi�on by working with industry partners to target mineral deposits in underexplored covered terrain.
By deploying its novel proprietary AI/ML Discovery Pla�orm, VerAI is drama�cally increasing the
probability of discovering substan�al deposits of different commodi�es in various geological jurisdic�ons,
shortening targe�ng �me, reducing explora�on costs, and minimizing the explora�on environmental
footprint. For more informa�on, visit htps://ver-ai.com/.
FOR FURTHER INFORMATION CONTACT:
www.ConquestResources.com
Tom Obradovich
President & Chief Executive Officer
416-985-7140
Forward-looking statements. This news release may include certain “forward-looking statements”. These statements relate to future events or
our future performance. The use of any of the words “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”,
“potential”, “should”, “believe” and similar expressions is intended to identify forward-looking statements. All statements other than statements
of historical fact, included in this release, including, without limitation, statements regarding the release of escrowed funds, future cash on hand,
potential mineralization, resources and reserves estimates, exploration results, and future plans and objectives of Conquest, are forward-looking
statements that involve various risks and uncertainties. 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. Important factors that could cause actual results to
differ materially from Conquest’s expectations are exploration risks detailed herein and from time to time in the filings made by Conquest with
securities regulators. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as
a result of new information, future events or other such factors which affect this information, except as required by law. Neither the TSXV nor its
Regulation Services Provider (as defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this release.