Conquest Receives TSXV Approval FOR Settlement of Debt with Shares
55 University Avenue, Suite 1805
Toronto, Ontario, Canada, M5J 2H7
www.conquestresources.com
+1 647 728 4126
NEWS RELEASE FOR IMMEDIATE DISSEMINATION
CONQUEST RECEIVES TSXV APPROVAL FOR SETTLEMENT OF DEBT WITH
SHARES
Toronto, Ontario – May 6, 2020 | Conquest Resources Limited (TSX -V: “CQR”) announces that it has
received approval from the TSX Venture Exchange (TSXV) for its p reviously reported ‘shares for debt’
arrangement involving settlement of an aggregate indebtedness of $ 70,314 by the issue of a total of
1,406,286 shares at a deemed issue price of $0.05 per share to Energold Minerals Inc., an affiliate of John
Kearney, a director and Chairman of Conquest, in settlement of advances previously provided for working
capital.
The shares for debt settlement was approved by the Board of Directo rs of Conquest on December 30,
2019. The shares have now been issued and the debt extinguished.
As a result of this transaction and his participation in the recently completed private placement financing
(See News Release issued February 26, 2020 and March 6, 2020) John Kearney now holds, directly and
indirectly, 23,512,217 (16.56%) Conquest shares and 1,500,000 warrants to purchase additional Conquest
shares.
In the Corporation’s News Release issued March 6, 2020 it was incorrectly reported that as a result of
the issue of shares for debt John Kearney would hold directly and indirectly in excess of 20% of the issued
Conquest shares and become a ‘control person’ as defined by the Exchange policies and it was stated that
the TSXV rules required disinterested shareholder approval for the issue of the 1,406,286 shares for debt
to Energold Minerals Inc. The number of shares reported as held, directly and indirectly by John Kearney
was not correct and upon t his issue of shares he will not hold in excess of 20% of the issued Conquest
shares and accordingly disinterested shareholder approval for the issue of the 1,406,286 shares for debt
to Energold Minerals Inc. is not required.
ABOUT CONQUEST
Conquest Resources Limited is a mineral exploration company engaged in the exploration of mineral
properties in Ontario, where the Company holds three advanced exploration properties with the potential
for the discovery of extensions of existing gold depos its, the Golden Rose Property at Emerald Lake, the
Alexander Property at Red Lake and the Smith Lake Property at Renabie.
Conquest has planned exploration programs at its Golden Rose, Smith Lake and Alexander properties,
including a drilling campaign of 1,500 metres at Golden Rose to test six prioritized targets deemed most
prospective for the discovery of gold mineralisation.
Conquest holds a 100% interest in the Golden Rose Property located at Emerald Lake, sixty-five kilometres
northeast of Sudbury, O ntario where 28 claims plus four mining leases include the former Golden Rose
Gold Mine.
Conquest holds a 100% interest in the Alexander Property in the heart of the Red Lake Gold Camp in
Ontario, strategically located east of Evolution Mining’s Red Lake mine complex. The Alexander Property
is located within the important “Mine Trend” regional structure and adjacent to Evolution’s Aviation Zone
exploration target area.
Conquest also holds a 100% interest in the Smith Lake Property which is located within the Missanabie -
Goudreau Greenstone Belt in northern Ontario, between the former Renabie Mi ne to the east and the
Manitou Gold / Alamos Gold (Island Mine) land package to the west. The property includes claims lying
to the north, west and south of the former Renabie gold mine that had reported production of over
1,000,000 ounces of gold.
After the shares for debt settlement announced today, Conquest currently has 1 29,862,967 shares
outstanding.
FOR FURTHER INFORMATION CONTACT:
Paul Smith
Senior Geologist
902-698-2662
Robert Kinloch
President
306-881-8296
John F. Kearney
Chairman
416-362-6686