Conquest Resources Closes Non-Brokered Private Placement Financing
CONQUEST RESOURCES CLOSES NON-BROKERED PRIVATE PLACEMENT FINANCING
February 3, 2026 – Toronto, Ontario | Conquest Resources Limited (“ Conquest” or the
“Company”) (TSX-V: CQR) is pleased to announce that it has closed the first tranche of its
previously announced non-brokered private placement, by issuing 6,000,000 flow -through
shares as defined in the Income Tax Act (Canada) (“ FT Shares”) at a price of $0. 075 per FT
Share on a charity flow-through basis for gross proceeds of $450,000 (the “FT Financing”).
T h e g r o s s p r o c e e d s f r o m t h e F T F i n a n c i n g w i l l b e u s e d b y t h e C o m p a n y t o i n c u r e l i g i b l e
“Canadian exploration expenses” that qualify as “flow-through critical mineral mining
expenditures” as both terms are defined in the Income Tax Act (Canada) related to t he
Company’s Belfast-TeckMag Project in Ontario. For any subscriber who is an individual in
Ontario for the purposes of the Taxation Act (Ontario), or a partnership whose members are
such individuals, the expenditures incurred by the Company from the FT Financing will also
qualify as “eligible Ontario exploration expenditures” within the meaning of the Taxation Act
(Ontario).
The FT Shares will be subject to a hold period of four months and one day from the closing
date of the FT Financing in accordance with applicable securities laws.
In connection with the Financings, the Company has paid an aggregate of $ 9,000 in cash
finder's fees to an arms’ length party representing 6% of the gross proceeds of the FT Shares
that were sold to subscribers introduced by such party
The Financings are subject to final acceptance of the TSX Venture Exchange.
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.
C o n q ue s t h o l d s a 1 00% in t er e s t in th e B el f a st-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), VMS, 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 202 0 and
subsequent additional claim staking and purchases in its adjacent Belfast Copper Property
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% inter est in the Ale xander Gold Pr operty loca ted immedia tely
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.
FOR FURTHER INFORMATION CONTACT:
www.ConquestResources.com
Tom Obradovich
President & Chief Executive Officer
416-985-7140
Cautionary Statement Regarding Forward-Looking Information
Certain statements included in this press release constitute forward-looking information or
statements (collectively, “forward-looking statements”), including those identified by the
expressions “anticipate” , “believe” , “plan” , “estimate” , “expect”, “intend” , “may” , “should”
and similar expressions to the extent they relate to the Company or its management. The
forward-looking statements are not historical facts but reflect current expectations
regarding future results or events. This press release contains forward looking statements.
These forward-looking statements and information reflect management's current beliefs
and are based on assumptions made by and information currently available to the company
with respect to the matter described in this new release.
Forward-looking statements involve risks and uncertainties, which are based on current
expectations as of the date of this release and subject to known and unknown risks and
uncertainties that could cause actual results to differ materially from those expressed or
implied by such statements. Additional information about these assumptions and risks and
uncertainties is contained under "Risk Factors" in the Company's latest annual information
form filed on March 21, 2025, which is available under the Company's SEDAR+ profile at
www.sedarplus.ca and in other filings that the Company has made and may make with
applicable securities authorities in the future. Forward-looking statements contained herein
are made only as to the date of this press release and we undertake no obligation to update
or revise any forward -looking statements whether as a result of new information, future
e v e n t s o r o t h e r w i s e , e x c e p t a s r e q u i r e d b y l a w . W e c a u tion investors not to place
considerable reliance on the forward-looking statements contained in this press release.
N e i t h e r t h e T S X V e n t u r e E x c h a n g e n o r i t s R e g u l a t i o n S e r v i c e s P r o v i d e r ( a s t h a t t e r m i s
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release.