Copper Quest Completes the Auxer Gold Property Acquisition To Expand US Operations
CSE: CQX WWW.COPPER.QUEST
Copper Quest Completes the Auxer Gold Property Acquisition
To Expand US Operations
March 12, 2026, VANCOUVER, British Columbia – Copper Quest Exploration Inc. (CSE: CQX; OTCQB:
IMIMF; FRA: 3MX) (“Copper Quest” or the “Company”) is pleased to announce that further to its news
release dated February 11th, 2026, it has completed an arms-length Purchase Agreement (the
"Agreement") dated February 9th, 2026 to acquire 100% of the possessory rights and interest in and
to the AUXER Gold Property (the "Property"), located in Bonner County, Idaho, United States (the
"Acquisition") increasing its US exposure to prospective gold and copper assets across North
America.
Highlights of the AUXER Gold Property
● Road-accessible 1,087-hectare Property including 130 unpatented lode claims with
proximity to the BNSF Railway mainline reducing transportation costs and development
timelines compared to remote exploration projects.
● 7-kilometer strike length of mineralization shows strong geological similarities to orogenic
gold settings with multiple high-grade ore shoots indicating the potential for a substantial
underground mining operation.
● 1,000 meters of underground workings accessing historically sampled and mineable zones
provides valuable geological data and potential cost savings through existing access points.
● Permitted for Drilling through the IPNF Decision Memo providing immediate authorization
for a surface diamond drill program.
● Permitted to re-establish underground access of historical workings providing an
immediate opportunity to re-examine and sample the extensive historical workings, including
the Boston Vein and Chicago Vein systems, potentially accommodating future underground drill
programs.
● Proven near-surface, high-grade mineralization with historical underground development
and modern exploration results by Lightning Creek Gold Corp with grades up to 26.8 g/t Au.
● Permitted Infrastructure authorizations including temporary road construction, overland
travel access, and water withdrawal permits.
● Benefitting from Idaho's established mining jurisdiction, featuring comprehensive
regulatory frameworks, experienced mining contractors, and proximity to essential
infrastructure.
About the AUXER Gold Property
The Auxer Gold Project is located in Bonner County, Idaho, United States, approximately 4 miles
northeast of the town of Hope in a direct line. The property sits at an elevation of 1,603 meters (5,259
feet) in the Cabinet Mountain Range, positioned in a glacial cirque on the north side of the ridge near
the head of Wellington Creek. The project encompasses 130 unpatented lode claims covering a total
area of 2,687 acres, primarily located in Township 57 North, Range 2 East, Boise Meridian.
The Auxer Gold Project represents a compelling orogenic gold opportunity, positioned along one of
the region's most significant structural corridors. Located within the prolific Hope Fault system ,
featuring 5 kilometers of vertical throw and over 25 kilometers of horizontal offset, the project sits
strategically near a critical 25-degree bend where secondary structures like the Auxer Fault create
ideal gold trap geometries. This structural setting, combined with the presence of iron-rich quartz
diorite sills overlying kilometers of sulfide-bearing Lower Prichard Formation pelitic sediments,
creates all the geological hallmarks of an orogenic gold system as outlined in modern deposit models.
Historical exploration has demonstrated significant gold grades, with the 1936 Platts report
documenting up to 21.0 g/t Au in surface samples and underground workings showing consistent
mineralization over 4.3-meter widths averaging 9.42 g/t Au at an 18-meter depth. Drilling by Lightning
Creek Gold Corp in 2021 has validated this mineralization potential with intercept LCD21 -0019
returning 26.8 g/t Au over 0.73 meters.
Prior to Lightning Creek, the Auxer Gold Project has seen no historical drilling, with prior exploration
limited to underground workings and tunnels driven during the early 20th century. Operations ceased
in the 1930s following executive orders that effectively curtailed small-scale gold mining, and the
project was never reopened. As a result, Auxer represents a rare opportunity to apply modern
exploration techniques to a property of strong geological merit that has remained largely untested.
The project exhibits many of the defining characteristics of major orogenic gold systems recognized
globally and is situated in the politically stable and mining-friendly jurisdiction of Idaho, with proximity
to major permanent infrastructure including nearby highway access and an active BNSF Railway
mainline.
The project is typically accessed from Highway 200 via 16 miles of maintained USFS gravel roads. Due
to storm-related bridge damage in early 2026, vehicle access is currently planned via a 5-mile ATV trail
from the town of Hope. The U.S. Forest Service has indicated a willingness to accommodate planned
work programs via this route during the 2026 field season. The property's proximity to Highway 200
and the BNSF Railway mainline continues to support favorable long-term development logistics.
Brian Thurston, President & CEO of Copper Quest, commented: “The Auxer Gold Project represents
a timely opportunity to increase our gold exposure in one of North America's most mining-friendly regions
with gold prices at all-time highs. The Auxer is just the latest acquisition for Copper Quest and adds to our
existing gold portfolio including the past-producing Alpine Gold mine located approximately 150km to the
northwest. From a geological perspective, the Auxer Project exhibits all the hallmarks of other mineralized
orogenic gold systems as defined by contemporary deposit models. The expansion of the Boston Vein from
0.6m at surface to 3.66m at a 20-meter depth demonstrates classic orogenic gold vein geometry with strong
depth continuation potential with mineralization extending over multiple kilometers.”
Qualified Person
Joshua White, P.Geo., a Technical Advisor to the Company, a principle of Lightning Creek Gold Corp,
and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral
Projects, has reviewed and approved the technical information in this news release.
Transaction Details
Under the terms of the Agreement, Copper Quest has issued 2,000,000 common shares at a deemed
price of $0.15 per share and will pay a non-refundable one-time fee of USD$30,000 to the vendor in
exchange for 100% possessory rights and interest in the Project. The issued common shares of the
Company in connection with the transaction have be escrowed with staged releases over 12 months
from the date of closing. Closing is subject to exchange approval and other customary closing
conditions. A finder’s fee of 138,655 common shares at a deemed price of $0.15 per share has been
paid in connection with the transaction. All securities issued in connection with the Acquisition are
subject to a statutory hold period of four months and one day from the date of issuance.
Gold: Global Demand & Supply
Global demand for gold remains strong, supported by persistent geopolitical uncertainty, inflationary
pressures, and ongoing central bank purchases. At the same time, supply growth is limited, with
declining reserves at mature mines, few large-scale discoveries, and rising development costs. This
tightening supply backdrop highlights the strategic value of advancing new gold projects in secure,
mining-friendly jurisdictions. Copper Quest is aligned with these global trends, positioning Alpine and
Auxer to contribute to the next generation of significant gold discoveries.
About Copper Quest Exploration Inc.
The company's land holdings comprise 8 projects that span over 46,000 hectares in great mining
jurisdictions of Canada and the USA. Copper Quest is committed to building shareholder value
through acquisitions, discovery-driven exploration, and responsible development of its North
American portfolio of assets. The Company’s common shares are principally listed on the Canadian
Stock Exchange under the symbol “CQX”. For more information on Copper Quest, please visit the
Company’s website at www.copper.quest.
Copper Quest has a 100% interest in the past-producing Alpine Gold Mine located approximately 20
kilometers northeast of the City of Nelson British Columbia, spanning 4,611.49 hectares with a 2018
National Instrument 43-101 Standards of Disclosure for Mineral Projects historical inferred resource
of 268,000 tonnes, estimated using a cut-off grade of 5.0 g/t Au and an average grade of 16.52 g/t Au,
that represents an inferred resource of 142,000 oz of gold* (*McCuaig & Giroux, March 6, 2018, NI43-101
Technical Report for the Alpine Property, BC, Canada. Further drilling is necessary by the Company to upgrade/verify the
estimate. The QP has not done sufficient work to make the resource current and the Company is not treating the estimate
as current.). Apart from the Alpine Mine itself the property hosts 4 other less explored significant vein
systems including the past-producing King Solomon vein workings, the Black Prince and the Cold Blow
veins system, and the Gold Crown vein system. *The Company has not yet completed sufficient work
to verify the 2018 historic inferred resource results.
Copper Quest has a 100% interest in the road accessible Stars Porphyry Copper-Molybdenum
Property, spanning 9,693 hectares in central British Columbia’s Bulkley Porphyry Belt with Tana Zone
discovery drill intersection highlights of 0.466% Cu over 195.07m in drill hole DD18SS004 from
23.47m, 0.200% Cu over 396.67m in drill hole DD18SS010 from 29.37m, and 0.205% Cu over 207.27m
in drill hole DD18SS015 from 163.98m. This highly prospective, approximately 5 X2.5-kilometer
annular magnetic anomaly is interpreted to represent an altered monzonite intrusion and
surrounding hornfels.
Copper Quest has a 100% interest in the road accessible Kitimat Copper-Gold Property, spanning
2,954 hectares within the Skeena Mining Division of northwestern British Columbia located northwest
of the deep-water port community of Kitimat, British Columbia. The property benefits from
exceptional infrastructure, being within 10 km of tidewater, 1.5 km of rail, and 6 km of high-voltage
hydroelectric transmission lines. Exploration on the Kitimat property dates to the late 1960s, with the
most significant historical work conducted by Decade Resources Ltd. (2010), which completed 16
diamond drill holes totaling 4,437.5 meters in the Jeannette Cu -Au Zone, and drill intersection
highlights of 0.54% Cu and 1.03 g/t Au over 117.07 m in Hole J-7 from 1.52 m, 0.55% Cu and 1.00 g/t
Au over 103.65m in Hole J-1 from 9.15 m, 0.45% Cu and 0.80 g/t Au over 107.01m in Hole J-2 from
6.10 m, and 0.33% Cu and 0.41 g/t Au over 112.20m in Hole J-8 from 11.89 m.
Copper Quest has a 100% interest in the past-producing, road accessible Auxer Gold Mine, spanning
1,087 hectares located in Bonner County, Idaho, USA. This orogenic gold opportunity is positioned
along one of the region’s most significant structural corridors located within the prolific Hope Fault
system. Historical exploration has demonstrated exceptional gold grades, with the 1936 Platts report
documenting up to 21.0 g/t Au in surface samples and underground workings showing consistent
mineralization over 4.3-meter widths averaging 9.42 g/t Au at an 18-meter depth.
Copper Quest has a 100% interest in the Nekash Copper-Gold Project, a porphyry exploration
opportunity located in Lemhi County, Idaho, USA, along the prolific Idaho-Montana porphyry copper
belt that hosts world-class systems such as Butte and CUMO. The project is fully road-accessible via
maintained U.S. highways and forest service roads and consists of 70 unpatented federal lode claims
covering 585 hectares.
Copper Quest has a 100% interest in the road accessible Stellar Property, spanning 5,389-hectares
in British Columbia’s Bulkley Porphyry Belt contiguous to the Stars Property.
Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern
British Columbia spanning over 20,658 hectares with 10 priority targets identified demonstrating
significant copper and precious metal mineralization potential.
Copper Quest has an earn-in option of up to 80% and joint-venture agreement on the road accessible
Rip Porphyry Copper-Molybdenum Project, spanning 4,700-hectares located in the Bulkley
Porphyry Belt in central British Columbia.
On behalf of the Board of Copper Quest Exploration Inc.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829
For further information contact:
Investor Relations
Forward Looking Information
This news release contains certain “forward-looking information” and “forward-looking
statements” (collectively, “forward-looking statements”) within the meaning of applicable
securities legislation. All statements, other than statements of historical fact included herein,
including without limitation, future operations and activities of Copper Quest, are forward-
looking statements. Forward-looking statements are frequently, but not always, identified by
words such as “expects”, “anticipates”, “believes”, “ intends”, “estimates”, “potential”,
“possible”, and similar expressions, or statements that events, conditions, or results “will”,
“may”, “could”, or “should” occur or be achieved. Forward-looking statements reflect the
beliefs, opinions and projections on the date the statements are made and are based upon
a number of assumptions and estimates based on or related to many of these factors. Such
factors include, without limitation, risks associated with possible accidents and other risks
associated with mineral exploration operations, the risk that the Company will encounter
unanticipated geological factors, risks associated with the interpretation of exploration
results, the possibility that the Company may not be able to secure permitting and other
governmental clearances necessary to carry out the Company's exploration plans, the risk
that the Company will not be able to raise sufficient funds to carry out its business plans,
and the risk of political uncertainties and regulatory or legal changes that might interfere
with the Company's business and prospects. Readers should not place undue reliance on
the forward-looking statements and information contained in this news release concerning
these items. The Company does not assume any obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors, should they change, except as
required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents
of this press release, and does not accept responsibility for the adequacy or accuracy of this
release.