Conquest’s drill testing of VerAI AI-generated targets identifies potential VMS system at its Belfast-TeckMag Project
181 University Avenue, Suite 1413
Toronto, Ontario, Canada,
M5H 3M7
www.ConquestResources.com
News Release
Conquest’s drill testing of VerAI AI-generated targets
identifies potential VMS system at its Belfast-TeckMag
Project
Toronto, Ontario, February 11, 2025 – Conquest Resources Limited (TSX-V: CQR) (“Conquest” or the
“Company”) is pleased to announce the comple�on of its first phase, 3,549 m drill program, with
explora�on partner VerAI Discoveries Inc. (“VerAI”), on the Belfast -TeckMag Project located in
southern Ontario, Canada.
Highlights
• Poten�al copper, zinc, and gold bearing VMS system iden�fied on the Eaglerock target
• Drilling established a poten�al mineralized system in three of four priority AI targets drilled
• Rapid deal execu�on from deal signing to target drilling comple�on in < six months
• Large, new prospec�ve area under cover opened up for new discoveries
• Strong partnership built with VerAI for further explora�on on the project and across the region
In September 2024, Conquest announced the commencement of a 3,000 m diamond drill program on
its 100%-owned Belfast-TeckMag Project (Figure 1). Nine drill holes totalling 3,549 m have since been
completed, tes�ng four high priority targets generated from VerAI’s proprietary AI Discovery Pla�orm.
Assay results, reported below, have been received for six drill holes BC24-29 and BC24-31 through to
BC24-35.
Thomas Obradovich, Conquest’s President and CEO, commented, “We are excited to see the results
of our first AI -driven exploration partnership with VerAI on our Belfast -TeckMag Project, and in
particular, intercepting copper – zinc – gold mineralization at Eaglerock. The results from drillhole
BC24-32 are of particular interest when you consider that this was one of only three holes testing a
completely concealed AI target that is up to 2 km long and 500 m wide, and where we were not able
to detect mineralization using traditional exploration techniques. The fact that we see intervals of
anomalous copper, z inc, and gold up to 30 m wide with separate zones enriched in palladium and
platinum, bodes well for the potential discovery of a significant mineralized system at Eaglerock with
the next stage of drilling.”
“We are also very encouraged to see that the technology has established that at least three of the four
AI-derived targets have intersected a potential mineralized system for further testing,” Mr. Obradovich
continued.
“Given that we only signed the agreement with VerAI back in June last year and have already, within
six months, completed the initial drill program with this level of success, is testament to both our
operational teams and the AI technology, which has dramatically reduced the time and cost to take a
target to drilling stage from many years to just a few months. We're excited to partner with VerAI on
the next phase of work on the Belfast TeckMag Project.”
On the 2 km long Eaglerock target, two of three drillholes (BC24-32 and BC24-33) intersected sulphidic
horizons including chalcopyrite and sphalerite, within dominant pyrrho�te mineraliza�on locally
amoun�ng up to 25%. Assay results have confirmed visual observa�ons with significant copper
mineraliza�on being intersected including 0.83% Cu over 0.5 0 m in drillhole BC24 -33, along with
anomalous Cu miner aliza�on over a core length of 33.50 m in drill hole BC24 -32. Coinciding Zn
mineraliza�on has also been confirmed including 0.40% Zn over 2.00 m in drill hole BC24-33 within a
zone of 7m averaging >0.1% Zn.
Logging of the core from BC24 -32 has confirmed the presence of a poten�al volcanogenic massive
sulphide (VMS) horizon, including sulphidic chert and fine sediments over a intersected length of 33.50
m with anomalous Cu and Zn. This interval is interpreted to be a hiatus in volcanism which may have
preserved a massive sulphide lens and will be a focus of future drilling.
Yair Frastai, CEO of VerAI Discoveries, commented , “The results from this program with our
partnership with Conquest validates the powerful discovery capabilities of the VerAI technology and
approach. We are very encouraged to see that the Eaglerock target in particular suggests we may be
on the margins of a VMS copper -gold-zinc system which was completely concealed below younger
rocks and extensive forest cover. We look forward to the next steps in our partnership with Conquest to
quickly and efficiently advance these projects to the next stage.”
At the Turtleshell target, 4 km southwest of Eaglerock, low level magma�c -style sulphide
mineraliza�on within mafic intrusive rocks was intersected throughout drillhole BC24-29, with grades
up to 0.53% Cu over 0.60 m. At the Emerald target, west of the Eaglerock target, drillholes BC24-31
and BC24-35 intercepted Archean volcaniclas�c breccia, possibly related to VMS deposit forma�on,
though no significant mineraliza�on was intercepted.
T wo 350 m holes (BC24-27 and BC24 -28) were drilled at the Manitou target but failed to reach the
target horizon beneath thick Nipissing diabase units. Due to the thickness of cover sequences in the
area, poten�al exists at greater depths to intercept the target unit with further drilling.
Conquest – VerAI Partnership
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. In September 2024,
a planne d 3,000 m diamond drilling program funded by VerAI commenced and was completed in
December 2024.
Mul�ple high priority drill targets were 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 rele ase 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), volcanogenic massive sulphide (VMS), and
affiliated deposits.
VerAI Targets concealed under forest
Fine grained siliceous chert, potential VMS host VerAI team – site visit during drilling, October ‘24
Copper mineralization textures – drillholes BC24-33 and BC24-32
Figure 1- [Map] Loca�ons of drill holes, Belfast-TeckMag Project
Table 1. Assays results from drill program
Note: Intervals reported in Table 1 represent core lengths and not true widths.
Table 2. Coordinates of Assays results from drill program
QA/QC PROGRAM
Samples were cut using a diamond blade saw, inserted into labeled bags, and delivered by
representa�ves of Conquest to Ac�va�on Laboratories Ltd. in North Bay, Ontario. Ac�va�on
Laboratories Ltd. is an ISO 17025:2005 accredited tes�ng laboratory.
Samples were analyzed for Au, Pt, and Pd using the 1C -OES package and mul�-element analysis was
completed by near-total diges�on (four-acid) with an ICP-OES finish (IF2 package).
BHID From To
Core
length
(m)
Au
(ppb)
Ag
(ppm)
Cu
(ppm)
Pb
(ppm)
Zn
(ppm)
Pd
(ppb)
Pt
(ppb)
Ni
(ppm)
BC24-29 273.00 273.60 0.60 27 3 5,320 1 430 12 9 104
BC24-30 151.50 152.00 0.50 13 1 1,170 1 66 7 11 303
BC24-32 50.00 50.50 0.50 55 1 1,620 31 260 9 11 94
BC24-32 207.00 240.50 33.50 4 1 368 10 84 5 4 60
BC24-32 including 209.00 216.00 7.00 6 1 766 4 27 3 3 35
BC24-32 including 237.50 238.00 0.50 1 1 446 181 2,730 2 2 170
BC24-32 253.00 253.50 0.50 58 0 9 1 19 2 2 47
BC24-33 35.50 36.50 1.00 6 0 231 7 2,015 2 4 90
BC24-33 63.00 70.00 7.00 6 1 202 7 1,363 3 3 61
BC24-33 including 63.00 64.00 1.00 29 1 322 14 6,190 2 2 92
BC24-33 including 63.00 65.00 2.00 17 1 180 8 4,005 2 2 72
BC24-33 184.50 185.00 0.50 78 3 4,200 3 730 6 14 199
BC24-33 189.50 190.00 0.50 13 2 1,940 1 808 6 12 293
BC24-33 229.95 331.70 101.75 3 0 210 1 67 5 5 47
BC24-33 including 229.95 230.45 0.50 21 2 2,740 5 64 2 5 140
BC24-33 239.00 239.50 0.50 10 1 1,300 4 244 2 2 100
BC24-33 297.00 297.50 0.50 86 6 7,580 4 300 2 6 69
BC24-33 331.20 331.70 0.50 72 6 8,340 9 613 94 49 646
BC24-35 495.00 500.00 5.00 1 0 82 1 48 15 20 140
BC24-35 510.00 512.00 2.00 10 0 43 1 64 11 13 137
BHID Easting Northing Elevation Dip Azimuth Length
BC24-27 555,295 5,192,822 291 -65 140 351
BC24-28 555,508 5,192,705 320 -65 140 351
BC24-29 556,025 5,192,884 337 -65 140 351
BC24-30 556,137 5,193,280 356 -65 140 353
BC24-31 553,494 5,196,623 348 -65 320 399
BC24-32 556,007 5,197,205 328 -65 320 354
BC24-33 555,980 5,197,021 339 -65 320 372
BC24-34 557,036 5,198,002 350 -65 320 498
BC24-35 554,077 5,196,878 346 -65 320 540
Conquest inserted standards and blanks and performs duplicate analysis as part of its QA/QC program.
Ac�va�on Laboratories also performs an internal QA/QC program which includes the inser�on of
CRM’s, blanks, sample repeats, and duplicate samples.
QUALIFIED PERSON
The technical content of this News Release has been reviewed and approved by Joerg Kleinboeck,
P .Geo., a qualified person as defined in NI 43-101.
ABOUT CONQUEST
Conquest Resources Limited, incorporated in 1945, is a mineral explora�on company that is exploring
for base metals and gold on mineral proper�es 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 excep�onal explora�on upside for magma�c
sulphide deposits (Cu-Ni-PGE), volcanic massive sulphides, IOCG, iron forma�on hosted Au and Paleo-
placer Au. The Belfast-TeckMag Project is the Company’s flagship property, evolved from the Golden
Rose Project, which was ini�ally acquired in December 2017, and significantly augmented through the
acquisi�on of Canadian Con�nental Explora�on Corp. (“CCEC”) in 2020 and subsequent addi�onal
claim staking and purchases in its adjacent Belfast Copper Project and TeckMag Property.
Conquest now controls over 300 square kilometres 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 en�rel y surrounded by Evolu�on Mining
landholdings.
In addi�on, 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 -Driven Mineral Asset Business that is leveraging its proprietary AI
Discovery Pla�orm to systema�cally iden�fy and target high-probability loca�ons of concealed mineral
deposits. VerAI owns a rapidly growing por�olio of over 60 mineral projects and 17 royal�es across
Ontario, Arizona, Nevada, and Chile , iden�fied using its AI Discovery Pla�orm. By focusing on
underexplored covered terrain within prime mining jurisdic�ons, VerAI is drama�cally increasing the
probability of discovering substan�al deposits of different commodi�es , while mi�ga�ng economic
risk. The company is partnering with industry leaders and explorers to grow its global asset por�olio
of base and precious metals targets, unlocking significant value and contribu�ng to the global supply
of cri�cal minerals. 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”. 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 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. 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.