Copper Quest Increases and Closes Unit Offering for Total Gross Proceeds of $2,099,890
CSE: CQX WWW.COPPER.QUEST
Copper Quest Increases and Closes Unit Offering for Total Gross
Proceeds of $2,099,890
// Not for distribution to the United States newswire services or for dissemination in the United States //
February 5, 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 January 26, 2026, it has increased and closed its previously announced non -brokered
private placement for total gross proceeds of $2,099,890 (the “ Offering”) through the issuance of
16,513,000 units (each, a “Unit”) at a price of $0.13 per Unit.
Each Unit consists of one (1) common share in the capital of the Company (a “ Share”) and one Share
purchase warrant, whereby each Share purchase warrant (a “ Warrant”) shall be convertible into an
additional Share (a “Warrant Share”) at an exercise price of C$0.165 per Warrant Share. Each Warrant
shall expire on the date that is two (2) years following the date of issuance (the “ Expiry Date”). The
Expiry Date of the Warrants may be accelerated if the closing price of the Shares on any Canadian
stock exchange equals or exceeds $0.50 for ten (10) consecutive trading days at any time following
the date that is four months and one day after the date of issue of the Warrant s, such that the
Warrants shall expire on the date which is 30 calendar days following the date a news release is issued
by the Company announcing the accelerated expiry date of the Warrants.
Proceeds from the Private Placement are intended for exploration activities and general working
capital purposes. Closing of the Private Placement is subject to the receipt of all necessary regulatory
and other approvals . Fees of $1 13,405.28 are to be paid and 872,348 finder’s warrants issued (the
"Finder's Warrants ") to certain finders in connection with the Offering. Each Finder's Warrant is
exercisable into one Share for a period of (2) two years after the date of issuance at an exercise price
of $0.165 and includes the same accelerator provision.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring
four months and one day after the date of issuance, as set out in National Instrument 45‐102 – Resale
of Securities.
The securities described herein have not been registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or
sold absent registration or compliance with an applicab le exemption from the registration
requirements of the U.S. Securities Act and applicable state securities laws. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any State in which such offer, solicitation or sale would be unlawful.
Stock Option Grant
The Company also announces it has granted an aggregate of 3,250,000 stock options (collectively, the
“Options”) to a director, officer, and certain consultants of the Company , for the purchase of up to
3,250,000 common shares in the capital of the Company pursuant to the Company’s Stock Option
Plan.
The Options are exercisable for a period of 5 years at an exercise price of $0 .15 per Share and vest
immediately. The Options and underlying Shares will be subject to a four month hold period in
accordance with the policies of the CSE.
About Copper
Copper is an essential industrial metal at the heart of the global energy transition and modern
infrastructure. It plays a critical role in electrification, renewable energy systems, electric vehicles, data
centers, and smart technologies. With global dema nd rising and new supply challenged by declining
grades, complex permitting, and underinvestment, the copper market faces persistent deficits and
growing geopolitical scrutiny. Recent U.S. policy announcements, including import tariffs and
initiatives to secure domestic and allied supply chains, underscore copper’s strategic importance and
the need for resilient, localized resource exploration, development, production and processing
capacity.
About Copper Quest
The company's land holdings comprise 7 projects that span over 45,000 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 critical mineral 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, 2018)*. 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 ve in 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 X 2.5
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 intersec tion
highlights of 1.03 g/t Au, 0.54% Cu over 117.07 m in Hole J-7 from 1.52 m, 1.00 g/t Au, 0.55% Cu over
103.65m in Hole J-1 from 9.15 m, 0.80 g/t Au, 0.45% Cu over 107.01m in Hole J-2 from 6.10 m, and
0.41 g/t Au, 0.33% Cu over 112.20m in Hole J-8 from 11.89 m.
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 P orphyry 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, the planned use of proceeds of the Private Placement, and future operations
and activities o f 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. Forw ard-
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 busine ss
plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's busine ss
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.