MetalQuest Expands Gold Division in the Kenora Mining District, Northwestern Ontario
MetalQuest Mining Inc. TSX-V: MQM OTCQB:MQMIF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.metalquestmining.com
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MetalQuest Expands Gold Division in the Kenora Mining District,
Northwestern Ontario
March 19, 2026 - Vancouver, BC – MetalQuest Mining Inc. (TSX.V: MQM; OTCQB: MQMIF) (“MQM”
or the “Company”) is pleased to announce that it has expanded its growing gold exploration portfolio in
Northwestern Ontario through the staking of the East Cameron Gold Project (the “Project”), located in
the Kenora Mining District.
The newly acquired property consists of 144 mining claim s covering approximately 2,880 hectares
(~7,115 acres) and lies along the same regional structural corridor that hosts the Cameron Lake Gold
Deposit, currently owned by First Mining Gold Corp.
The East Cameron Gold Project compl ements the Company’s recently acquired West Cameron Gold
Project, (see news releases dated February 3, 2026 , and March 12, 2026 ) where MetalQuest recently
completed due diligence and elected to proceed with an option to acquire a 100% interest.
Chairman and CEO Harry Barr stated, “The acquisition of the East Cameron Gold Project further
strengthens MetalQuest’s growing gold position within the Kenora Mining District and complements our
recently announced West Cameron Gold Project. We believe the district holds significant exploration
potential, and assembling a strategic footprint along this regional gold trend positions the Company to
generate new discovery opportunities. As we advance exploration, MetalQuest remains committed to
creating long-term value for our shareholders while engaging early and respectfully with local First
Nation communities to ensure exploration activities are conducted in a responsible and collaborative
manner.”
The Company will host an open house on April 11, 2026, at its newly established Kenora, Ontario
field operations office and core facility (Figure 1). The facility will also be shared with New Age
Metals Inc., which currently holds approximately 10% of the Company’s outstanding shares.
Figure 1: MetalQuest Mining’s Kenora-based field operations office and core facility.
MetalQuest Mining Inc. TSX-V: MQM OTCQB:MQMIF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.metalquestmining.com
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The open house will take place from 10:00 a.m. to 3:00 p.m., and shareholders and interested parties are
welcome to attend. Food and refreshments will be provided. Those interested in attending are
encouraged to contact Doug Bundy at [email protected]
MetalQuest Mining will be attending the NWOPA Showcase 2026 on April 8 –9 in Thunder Bay. The
Company is scheduled to deliver a presentation at the event.
Highlights
• Located approximately 40 km southeast of the town of Sioux Narrows and 90 km south of the city
of Kenora, benefiting from year-round road access and established regional infrastructure
• Located adjacent to First Mining Gold Corp.’s Cameron Gold Project, recently acquired by
Frank Giustra’s Fiore Group
• Gold mineralization hosted in shear zones, quartz -carbonate veining, altered felsic intrusions,
associated with banded iron formation and structurally deformed rock units
• MetalQuest is currently finalizing its 2026 exploration program, which is expected to include
geological mapping, sampling, geophysical surveys, and targeted drilling to validate and
expand known mineralization
• The Company plans to engage with local First Nation s communities and intends to pursue
opportunities for collaborative and respectful partnerships, consistent with its commitment to
responsible exploration
A Strategic Gold Hub
The Kenora Mining District has historically been underexplored and is increasingly emerging as an
active exploration and development region , supported in part by improved commodity prices and
renewed industry and investor interest.
The region offers a compelling combination of:
• Established mining infrastructure and highway access
• Proximity to power, workforce, and service centers
• Favorable permitting environment and community relationships
Recent acquisitions and investments within and adjacent to the district include:
• Regional consolidation, highlighted by Coeur Mining’s announced acquisition of New Gold in
a ~US$7 billion transaction . As stated here: Coeur Mining, Inc. (2025). Coeur announces
acquisition of New Gold to create a new all -North American senior precious metals producer.
Coeur Mining News Release.
• The Cameron Lake Gold Project acquisition, led by Frank Giustra’s Fiore Group and First
Mining Gold Corp., in a transaction valued at approximately CAD $27 million. As stated here:
First Mining Gold Corp. (2025, November 20). First Mining announces new partnership to
advance Cameron Gold Project.
• Growing exploration and development activity by junior, mid -tier, and senior mining
companies, reflecting renewed industry interest in the Kenora and nearby districts
The Company notes growing support for mineral exploration at the provincial, regional, and municipal
levels, including policies and initiatives intended to encourage responsible resource development and
investment.
MetalQuest Mining Inc. TSX-V: MQM OTCQB:MQMIF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.metalquestmining.com
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East Cameron Gold Project
The East Cameron Gold Project consists of 144 mining claim cells covering approximately 2,880
hectares (~7,115 acres) in the Kenora Mining District of Northwestern Ontario. The property is located
approximately 10 km east of the Cameron Lake Gold Deposit and is accessible via logging roads
extending from the Sioux Narrows area.
The Project is adjacent to the Cameron Lake claim group, as shown in Figure 2. The Cameron Lake Deposit
hosts pit-constrained (0.55 g/t Au cut -off) Measured and Indicated mineral resources of
approximately 3.5 million tonnes grading 2.45 g/t Au, containing approximately 274,000 ounces of
gold, and pit-constrained Inferred mineral resources of approximately 0.035 million tonnes grading
2.45 g/t Au, containing approximately 3,000 ounces of gold. In addition, the deposit hosts underground
(2.00 g/t Au cut-off) Measured and Indicated mineral resources of approximately 2.0 million tonnes
grading 2.90 g/t Au, containing approximately 190,000 ounces of gold , and underground Inferred
mineral resources of approximately 6.5 million tonnes grading 2.54 g/t Au, containing approximately
530,000 ounces of gold . As disclosed in the Technical Report on the Cameron Gold Deposit, Ontario,
Canada (First Mining Finance Corp., effective January 17, 2017) . Mineral resources are not mineral
reserves and do not have demonstrated economic viability. The information on the Cameron Lake Property
is not necessarily indicative of the mineralization on the East Cameron Gold Project.
Figure 2: Location of the East (Red Circle) and West (Purple Circle) Cameron Gold Projects near Sioux Narrows,
Northwestern Ontario, Kenora Mining District, adjacent to the Cameron Lake Property. First Mining’s Cameron
Lake Gold Deposit is located approximately 1 0 km from the project along an all-weather access road from both
projects. Frank Giustra’s Fiore Group and First Mining Gold Corp. are in a transaction valued at approximately
CAD $27 million for the Cameron Gold Deposit.
MetalQuest Mining Inc. TSX-V: MQM OTCQB:MQMIF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.metalquestmining.com
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The East Cameron Gold Project is underlain by mafic volcanic rocks, intrusive bodies, and iron
formation units of the Rowan–Cameron Lake greenstone belt. Historical exploration within the broader
area has identified sulfide-bearing banded iron formation (BIF), gabbroic intrusions, and structurally
deformed volcanic sequences , which are considered favourable host rocks for orogenic gold
mineralization. Limited historical drilling in the region intersected magnetite- and pyrrhotite-rich BIF
horizons, indicating the presence of chemically reactive units t hat may act as traps for gold -bearing
hydrothermal fluids.
Gold mineralization on the property is associated with:
• Quartz-carbonate veining within shear zones
• Sheared felsic intrusions
• Iron formation horizons with sulfide mineralization
• Carbonate alteration and sulfide assemblages, including pyrite and chalcopyrite
The interpreted Cameron Lake Fault system extends through the regional area and is considered an
important structural control on gold mineralization. The East Cameron Gold Project covers a portion of this
broader structural corridor where multiple shear orientations and lithological contacts may provide
favourable sites for gold deposition.
MetalQuest is currently finalizing its 2026 exploration program for the Project, which is expected to include
detailed geological mapping, systematic surface sampling, geophysical surveys, and targeted drilling. These
programs are designed to refine the ge ological model, confirm known mineralization, and generate new
drill targets across priority areas of the property.
Qualified Person
Troy Gallik, P.Geo. (Member ID 3550), a Practising Registrant and Qualified Person (“QP”) as defined by
National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the
scientific and technical information contained in this news release. Mr. Gallik is a geological consultant to
MetalQuest Mining (MQM) and is not independent for the purposes of NI 43-101.
The Qualified Person has reviewed available assessment files, historical drill logs, geophysical datasets,
government geological data, and public technical reports relevant to the Project area. The QP has not
completed sufficient work to independently veri fy all historical exploration data referenced herein,
particularly data generated by previous operators; however, the QP considers the historical information to
have been collected using industry -standard practices of the time and to be reasonably reliable for the
purposes of early-stage exploration and target generation.
Mineral resources referenced on adjacent properties are not necessarily indicative of mineralization on the
Project.
The Company notes that Mr. Gallik holds an underlying royalty interest on the Project and is therefore not
independent for the purposes of NI 43-101.
Gallik Explorations, a wholly owned company of Troy Gallik, also provides geological consulting services
to MetalQuest Mining Inc. but remains at arm’s length to the Company as defined by TSX Venture
Exchange policies.
MetalQuest Mining Inc. TSX-V: MQM OTCQB:MQMIF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.metalquestmining.com
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About MetalQuest Mining
MetalQuest Mining (MQM) owns 100% of Lac Otelnuk and is working to develop one of the largest Iron
projects in North America. The Lac Otelnuk Iron Project is located in Quebec’s Labrador Trough and is
approximately 165 km by air northwest of the Town of Sc hefferville, and 1200 km northeast of Montreal
by air. The Company has recently acquired a portion of the underlying net smelter return (NSR)
royalty on the Project, https://metalquestmining.com/news/metalquest-mining-amends-royalty-on-its-
lac-otelnuk-iron-project-in-quebec/.
The Quebec government has transferred 100% of the claims into MQM’s name and management is
accumulating a vast amount of technical data as approximately $120 million has been expended on the
project to date. Going forward, one of our primary objectives will be to continue to work with Naskapi First
Nation of Kawawachikamach with whom we have an Exploration and Pre -Development Agreement as of
November 2023.
A Gap Study Analysis was completed a s of February 18 th, 2026, by AtkinsRéalis, a global engineering
leader and lead author of the 2015 feasibility study, provided a clear framework for the Project’s next stage
of advancement. Importantly, the review did not identify any issues that would preclude continued
advancement of the Project. MetalQuest is advancing Lac Otelnuk through a phased approach focused on
technical validation, modernization opportunities, infrastructure and logistics planning, ESG and permitting
progress, and updated economic evaluation, with the goal of creating long-term value for shareholders and
stakeholders.
On December 3rd, 2025, MetalQuest Mining (MQM) announced the acquisition of the ROF-1 Project, a
critical minerals land package in Ontario’s Ring of Fire totaling 1,034 claim s (~20,800 hectares, ~52,000
acres). The Ring of Fire is one of Canada’s most important emerging critical minerals districts,
supported by growing infrastructure and government attention as the region advances toward
potential development. ROF-1 Project is located approximately 10 km from major nearby deposits and
has identified exploration potential for VMS -style mineralization and multiple untested target corridors
based on historic work and technical review. https://metalquestmining.com/news/metalquest-secures-
critical-minerals-project-in-northern-ontarios-ring-of-fire-region/
The previously announced acquisition of the Fishhook Polymetallic Project represents MetalQuest’s
second step in building a broader multi-project Ring of Fire strategy, with the Company continuing
to review additional opportunities in the region. https://metalquestmining.com/news/metalquest-
acquires-a-second-22000-ha-property-in-the-ring-of-fire-northern-ontario-the-fishhook-
polymetallic-project/
New Age Metals Inc., a significant shareholder of MetalQuest Mining Inc. with approximately 9.63%
undiluted and ~14.6% partially diluted , has recently advanced into the Ring of Fire through the
acquisition of new exploration properties, reflecting increasing exploration momentum within the
district. New Age Metals’ activities are independent of MetalQuest’s operations.
New Age Metals is focused on the discovery and advancement of platinum group metals and other critical
minerals projects in North America and has identified the Ring of Fire as a strategic area for long -term
growth. The expansion of its exploration portfol io within this emerging district highlights continued
MetalQuest Mining Inc. TSX-V: MQM OTCQB:MQMIF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.metalquestmining.com
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industry interest in early -stage, district -scale opportunities supported by improving infrastructure,
government engagement, and regional exploration activity.
With the acquisition of the Fishhook Polymetallic Project in the Ring of Fire, on the January 23 rd,
2026 New Age Metals Inc. and MetalQuest Mining Inc. have assembled approximately 62,800
hectares (~155,200 acres), consisting of 3,067 mining claims, subject to a 1.0% NSR with a 0.5%
buyback, forming a portfolio of early -stage exploration ground considered pro spective for critical
minerals. The companies will continue to evaluate further acquisitions in the district.
MetalQuest believes that the alignment of shareholder interest and regional exploration focus further
supports the Company’s strategy of disciplined land acquisition and systematic exploration within
the Ring of Fire.
MetalQuest Mining also recently acquired the West Cameron Gold Project located in the Kenora Mining
District of Northwestern Ontario. The Project is situated along the same regional structural corridor that
hosts the Cameron Lake Gold Deposit and is considered prosp ective for structurally controlled gold
mineralization. The Company is currently reviewing historical exploration data and planning follow -up
exploration programs designed to advance and evaluate the Project’s discovery potential.
The initial phase of work, planned for Winter/Spring 2026, at the recently acquired Superior Iron Project
will comprise systematic ground truthing, detailed geophysical surveys, and comprehensive environmental
baseline studies. These programs are designed to enhance the geological model, refine the understanding
of mineralized zones, and delineate high -priority drill targets to support the next stage of exploration and
project development.
The Company also owns ~1.45 million free trading shares and 2.5 million warrants at a strike price of
$0.125 of Canadian Copper (CCI) as of the closing of trading on January 30th, 2026, CCI shares were
trading at $0.78.
Two NSR royalties totaling 1% in the Murray Brook PEA Stage Zinc -Polymetallic Deposit, situated
in the famous Bathurst Mining District, New Brunswick, Eastern Canada.
Canadian Copper Inc (CCI) must pay MQM a pre-production cash payment of $1 million before the
project goes into production and has the right to purchase half of a 0.33% royalty for $1 million
dollars.
In the event that CCI purchases half of the 0.33% royalty, MQM will retain 0.82% royalty in
perpetuity.
The Company has indicated that it is completing a Preliminary Economic Assessment (PEA) on processing
the Murray Brook deposit at the Caribou Processing Complex. Release date is expected in the first half of
2026. CCI recently secured a financing to acquire the Caribou complex. The Caribou Processing Complex
is approved and maintains all required operating permits. See CCI’s website for further details.
Investors are invited to visit the MetalQuest Mining website at www.metalquestmining.com where they
can review the company and its corporate activities. Any questions or comments can be directed to Harry
Barr at [email protected] or Max Kaczmer [email protected] by telephone at 613 659
2773.
MetalQuest Mining Inc. TSX-V: MQM OTCQB:MQMIF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.metalquestmining.com
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On behalf of the Board of Directors and Management, we thank you for your continued support and
trust in MetalQuest Mining.
Harry G. Barr
Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking
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materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statement s of
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including the most recent reports that identify important risk factors that could cause actual results to differ from those contained
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