Conquest Closes Private Placement
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55 University Avenue, Suite 1805
Toronto, Ontario, Canada, M5J 2H7
www.ConquestResources.com
NEWS RELEASE FOR IMMEDIATE DISSEMINATION
CONQUEST CLOSES PRIVATE PLACEMENT
Toronto, Ontario – December 17, 2020 | Conquest Resources Limited (TSX-V: “CQR”) is pleased to
announce that it has closed the final tranche of its previously announced $850,000 non-brokered private
placement flow-through financing.
Conquest today closed the final tranche of the financing involving the placement of 2,325,000 shares at
a subscription price of $0.20 per share, to raise gross proceeds of $465,000. Total proceeds raised in the
financing was $850,000.
The gross proceeds of the flow through share financ ing will be used to incur qualifying "Canadian
exploration expenses", within the meaning of the Income Tax Act (Canada), for drilling and other
exploration programs at the Company’s Golden Rose and Belfast Project properties in Ontario.
All securities issued in connection with this flow-through financing are subject to a four month hold period
from the date of issuance of such securities.
Finders fees in the total amount of $20,400, cash will be paid to certain arms-length parties for assisting
in this non-brokered financing.
Tom Obradovich, an insider of Conquest, subscribed for 250,000 flow through shares for gross proceeds
of $50,000. The issue of flow-through shares to Tom Obradovich, a ‘Related Parties’ within the meaning
of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions of the
Canadian Securities Administrators (the “Instrument”), constitutes a ‘related party transaction’ under the
Instrument. However, the transaction is exempt from the formal valuatio n requirements of the
Instrument by virtue of s. 5.5(a) – Fair Market Value Not More Than 25% of Market Capitalization; and
from the minority shareholder approval requirements by virtue of s. 5.7(a) – Fair Market Value Not More
Than 25% of Market Capitalization, and s. 5.7(b) - Fair Market Value Of Not More Than $2,500,000.
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this release.
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ABOUT CONQUEST
Conquest Resources Limited, incorporated in 1945, is a mineral exploration company that is exploring for
gold and other minerals on properties in Ontario.
Conquest holds a 100% interest in the Golden Rose Project, located at Emerald Lake approximately 65
kilometres northeast of Sudbury, Ontario, which hosts the former Golden Rose Gold Mine and is underlain
by highly prospective Abitibi greenstone geology along a strike length of 17 kilometres.
In October 2020, Conquest completed the acquisition of Canadian Continental Exploration Corp. which
holds an extensive package of mining claims which surrounds Conquest’s Golden Rose Mine Project at
Emerald Lake in the Temagami Mining Camp.
In November 2020, Conquest doubled its land holdings in the Temagami Mining Camp through the staking
of 588 mining cells, encompassing approximately 93 sq km, centered on Belfast Township, adjacent to the
Company’s consolidated land packages following the acquisition of Canadian Continental Exploration
Corp. Conquest now controls over 220 sq km of underexplored territory, including the past producing
Golden Rose Mine at Emerald Lake, in the Temagami Mining Camp.
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 on the important “Mine Trend” regional
structure. Conquest’s property is almost entirely surrounded by Evolution Mining land holdings.
In addition, Conquest owns a 100% interest in the Smith Lake Gold Property of six patented claims and
181 staked mining claims to the north, west and south of the former Renabie Gold Mine in Rennie
Township in northern Ontario, operated by Corona and Barrick that had reported gold production of over
1,000,000 ounces between 1947 and 1991 (Northern Miner March 4, 1991).
FOR FURTHER INFORMATION CONTACT:
www.ConquestResources.com
John F. Kearney
Chairman
416-362-6686
Tom Obradovich
President & Chief Executive
416-985-7140
Forward-looking statements. This news release may include certain "forward -looking statements". All statements
other than statements of historical fact, included in this release, including, without limitation, statements regarding
the completion of the Acquisition and the Consolidation, the release of escrowed funds, future cash on hand, potential
mineralization, resources and reserves, 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 ac tual 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.
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.
NEWS RELEASE FOR DISSEMINATION IN CANADA ONLY.
NOT FOR DISTRIBUTION IN UNITED STATES OF AMERICA.