Conquest to Acquire Golden Rose MINE Property IN Sudbury Mining District
55 University Avenue, Suite 1805
Toronto, Ontario, Canada, M5J 2H7
www.conquestresources.com
+1 647 728 4126
NEWS RELEASE FOR IMMEDIATE DISSEMINATION
CONQUEST TO ACQUIRE GOLDEN ROSE MINE PROPERTY
IN SUDBURY MINING DISTRICT
Toronto, Ontario – November 27, 2017 | Conquest Resources Limited (TSV -V: “CQR”) (“Conquest” or “the
Company”) is pleased to announce that the Company has entered in to a conditional agreement to acquire ,
indirectly, the Golden Rose Property, which encompasses the former Golden Rose gold mine and related patented
and staked mining claims located 65 kilometres northeast of Sudbury.
Conquest has entered into the Agreement (the “ Acquisition Agreement ”) with Northern Nickel Mining Inc.
(“Northern Nickel”), the current owner of the Golden Rose Property , and its majority shareholders to acquire
100% of Northern Nickel in consideration of the issuance of a total of 10,000,000 shares of Conquest to the
shareholders of Northern Nickel, representing approximately 10% of CQR shares outstanding.
“This low-cost acquisition is transformative for Conquest and its shareholders. The Golden Rose mine property at
Emerald Lake has exceptional exploration upside for gold discovery” commented Benjamin Batson, P. Geo, P. Eng.,
President and Chief Executive of Conquest. “The former gold producing mine has unusually extensive underground
development and relatively few exploration programs over the property’s 120-year history , despite having
exploration success through the last boom-cycle of the Canadian mining industry 2009 through 2011.”
“Exploration of the former Golden Rose Mine has been historically focused on a developed corridor of high-grade
gold mineralization measuring 770 metre in length over seven levels. In 2010 , surface exploration d rilling
confirmed high-grade gold mineralization below the 300-metre level at the east end of the developed areas. The
Company feels there is great opportunity to create value for Conquest shareholders by exploring in the untested
areas around the mine, in addition to the combined seven kilometres of favourable stratigraphy over two banded
iron formations which are largely untested and completely open for new gold discovery.”
The Acquisition Agreement provides for the purchase of 3,510,000 shares (70%) of Northern Nickel from the
majority shareholders of Northern Nickel and the agreement of Northern Nickel to assist in securing the
agreement of the remaining shareholders to sell their shares in consideration for the issu ance of a total of
10,000,000 shares of Conquest. In order to make the best use of their knowledge and experience with the Golden
Rose Property, Conquest has also agreed to retain the consulting services of the three majority shareholders of
Northern Nickel at a total cost of $75,000 over three years and appoint a representative of Northern Nickel to the
Board of Conquest.
Closing of the transaction contemplated in the Acquisition Agreement is subject to the agreement of the remaining
shareholders of Northern Nickel, regulatory approval including acceptance by the TSX Venture Exchange and other
closing conditions as are usual to agreements of this kind. Completion of the transaction is targeted for November
30, 2017.
FINANCING
Conquest is planning to undertake a property-wide drilling and sampling program at the Golden Rose property of
unexplored targets identified during its review of the property data and history. To fund this work, Conquest plans
to seek a non-brokered private placement of up to 3.5 million units at a price of $0.15 per unit for gross proceeds
of up to $525,000.
Each unit will consist of two flow-through shares, one common share and one-half a share purchase warrant. Each
whole share purchase warrant will entitle the holder to purchase one additional common share for $0.05 per
share for 12 months from the completion of the placement. A total of $0.10 of the purchase price of each unit
will be allocated to the purchase of the two flow -through shares included in the units. Subject to regulatory
approval, Insiders of Conquest may purchase up to 1.0 million units ($150 ,000) in the placement. Conquest is
seeking to complete this private placement prior to the end of December, 2017.
QUALIFIED PERSONS
Information of a scientific or technical nature contained in this release has been prepared by or under the
supervision of Benjamin Batson, P. Geo., P. Eng., President and Chief Executive Officer of the Company. Mr. Batson
is a Qualified Person within the meaning of National Instrument 43‐101 of the Canadian Securities Administrators.
COMPANY OVERVIEW
Conquest Resources Limited was first incorporated in 1945 and is a mineral exploration company that is engaged
in the exploration of mineral properties in Ontario. The Company’s principal exploration target is gold.
Conquest holds an undivided 100% interest in the Alexander Property located in the Red Lake mining camp in
Ontario. The Alexander Gold Project located immediately east of Goldcorp Inc.’s Red Lake and Campbell mines in
the heart of the Red Lake Gold Camp on the important “Mine Trend” regional structure which is almost
surrounded by Goldcorp’s land holdings.
Conquest also holds a 100% interest in the Smith Lake Property which consists of six (6) patented mining claims
and sixteen (16) staked mining claims in Leeson, Stover, Brackin, and Rennie Townships in northern Ontario, lying
to the north, west and south of the former Renabie gold mine.
Information will be m ade available in the coming days on the project, the details of the transaction and the
upcoming private placement financing by way of news release and a new company website.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Benjamin Batson, P. Geo., P. Eng.
President and CEO
647-728-4134
Robert Kinloch
Executive Vice President
306-343-5799
John F. Kearney
Chairman
416-362-6686
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 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange) accepts
responsibility for the adequacy or the accuracy of this release.