Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’, ‘SYH’ or the ‘Company’) is pleased to announce that it has entered into a definitive repurchase agreement (the ‘Strategic Agreement’) with Denison Mines Corp. (‘Denison’ or ‘DML’) whereby Denison will acquire an initial project interest in Skyharbour’s Russell Lake Uranium Project (‘Russell’ or the ‘Project’) and the parties have agreed to enter into four separate joint venture agreements at closing on various claims making up Russell (the ‘Transaction’). The Project is strategically located in the central portion of the Eastern Athabasca Basin of northern Saskatchewan, with access to regional infrastructure, including an all-weather road and powerline.

Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/2025-11-14%20SKY-RussellLake-Updated.jpg

Highlights:

• Strategic Agreement represents combined total project consideration of up to CAD $61.5 million consisting of cash or share payments to Skyharbour totalling up to $21.5 million (including $18.0 million before year end) plus expenditures totalling up to $40.0 million for Denison to acquire between a 20% and 70% ownership interest over seven years in the claims making up Russell, with Skyharbour owning the remaining interests.

• Denison (TSX: DML; NYSE American: DNN), a leading uranium mining company with a market capitalization of over $3 billion, is developing the Wheeler River Project (‘Wheeler River’), which shares a 55 kilometre border with Russell. Denison is an existing, large corporate shareholder of Skyharbour and now joins the Company as a strategic, active, funding partner at Russell.

• The Project will be divided into four different joint ventures, including Russell Lake (‘RL’), Getty East, Wheeler North, and the Wheeler River Inlier Claims, of which Skyharbour will retain initial ownership interests of 80%, 70%, 51%, and 30%, respectively. Denison can then earn up to a 70% interest in the Wheeler North and Getty East properties through option agreements.

• The technical teams of Denison and Skyharbour will work cooperatively to advance and unlock value across the joint ventures, employing top-tier exploration and development expertise in the region.

• Denison has committed to a minimum of $4 million in exploration expenditures over the first two years at Wheeler North and Getty East combined, as well as agreeing to fund to maintain its pro-rata 20% participation interest in the RL claims through 2029 up until such time that total exploration expenditures on the property reach $10 million.

• Skyharbour to remain operator with an 80% ownership interest at the RL claims comprising over 53,192 hectares of the original 73,314 hectare Russell Lake Project. The Company will also act as operator during the first earn-in at Getty East with Denison sole funding the exploration in order to fulfill the earn-in option criteria.

• Skyharbour to benefit with a substantial financial commitment from Denison before year end to help fund its uranium exploration and corporate activities through 2026. The Company will also generate revenue from its operator fee at the McGowan Lake exploration camp at the Project.

• Skyharbour will continue to directly advance its high-grade Moore Uranium project as well as the RL claims at Russell, while partner companies fund exploration at some of the Company’s other projects.

Jordan Trimble, President and CEO of Skyharbour, stated: ‘This is a transformative transaction for Skyharbour and our shareholders as it represents a major stamp of approval for Russell with up to $61.5 million in combined project consideration coming in. We are very pleased to expand upon our long-standing relationship with Denison and to partner with their team to advance one of the more prospective exploration projects in the Athabasca Basin proximal to existing and developing mines. Denison’s success in exploring, permitting, and developing the neighboring world-class Wheeler River Project will provide considerable insight and experience as we jointly pursue success at Russell. Further, this transaction delivers on our belief that Russell should be treated as multiple different projects due to the abundance of targets and sheer scale of the land package in one of the most prolific uranium exploration corridors in the world. The structure and terms of the Strategic Agreement allow Skyharbour to continue exploring as operator at the majority of the claims at Russell, while participating in the future success that Denison seeks as operator at the Wheeler North and Wheeler River Inlier claims. Furthermore, we will receive a significant amount of cash and Denison shares to help fund our exploration efforts and corporate activities through 2026.’

David Cates, President and CEO of Denison, further commented: ‘As Denison nears receipt of final regulatory approvals for the Phoenix In-Situ Recovery mine proposed for our flagship Wheeler River property, we are also making measured investments in our project pipeline – including our next development assets and high-potential exploration properties. Given its proximity to Wheeler River, Denison has had an interest in adding Russell to our property portfolio for much of my nearly two decades with the Company. This transaction achieves that objective by providing Denison with the opportunity to lead and participate in exploration efforts across four newly created joint ventures, which are designed to drive collaboration between Denison and Skyharbour’s technical teams. We are excited to build on our long-standing relationship with Skyharbour and accelerate the evaluation of this exceptional package of highly prospective ground.’

Reorganization of the Russell Lake Project:
https://www.skyharbourltd.com/_resources/images/Russell-Map-New.jpg

Upon closing of the Strategic Agreement, Denison will earn an initial project interest in each of the four new Russell exploration projects including a 49% interest in the Wheeler North claims, a 20% interest in the RL claims, a 30% interest in the Getty East claims, and a 70% interest in the Wheeler River Inlier claims.

1. Wheeler North (51% SYH, 49% DML ; subject to additional earn-in options ) : The yellow claims in the map above represent 16,409 hectares over eight claims. The claims host some of the exploration targets located proximal to Wheeler River, including the Grayling and Fork Zones. Upon closing of the Transaction, Denison will have the option to increase its interest in Wheeler North to a 70% interest in these claims and Denison will become the operator of Wheeler North as described in more detail below.
2. Russell Lake or RL (80% SYH, 20% DML) : The pink claims in the map above represent 53,192 hectares over 16 claims. These claims are located north and west of Skyharbour’s Moore Project and host numerous exploration target areas including Christie Lake, NE Russell, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Lake. In order to maintain its initial interest in RL, Denison has agreed to fund its pro rata share of up to a maximum of C$10.0 million in total project expenditures. Upon the closing of the Transaction, Skyharbour will remain operator of RL.
3. Wheeler River Inliers (30% SYH, 70% DML) . The blue claims in the map above represent 608 hectares over two claims. These are inlier claims within Denison’s Wheeler River project hosting the West Russell and C-Block exploration target areas. DML will become operator of the Wheeler River Inliers.
4. Getty East (70% SYH, 30% DML ; subject to additional earn-in options ) . The green claim in the map above representing 3,105 hectares is host to the Little Man Lake exploration prospect. The claim borders Cameco’s Cree Zimmer property which holds its Key Lake operations to the south.  Upon the closing of the Transaction, Skyharbour will remain operator of Getty East; however, Denison will have the option to become the operator and acquire up to a 70% interest in this joint venture as described in more detail below.

Transaction Details:

The consideration payment will consist of a $2 million cash payment immediately upon execution of the Strategic Agreement (the ‘Upfront Payment’), and deferred consideration of $16 million (the ‘Deferred Consideration’) payable on or before December 31 ^st , 2025.

The Deferred Consideration shall be payable in two tranches, each of which may be paid in cash or shares of Denison at Denison’s election, including $8 million on or before the fifth business day prior to December 21 ^st , 2025, and another $8 million within 10 days of December 21 ^st , 2025. Closing of the transaction (‘Closing’) is expected to occur on or before December 21 ^st , 2025.

The current exploration camp at McGowan Lake on the Project will continue to be operated by Skyharbour and an administrative fee will be payable by Denison to Skyharbour. The claims comprising Russell are subject to various existing underlying royalties to other parties.

The Transaction is subject to customary approvals, including Skyharbour obtaining TSX Venture Exchange approval. The Transaction will be considered a Reviewable Transaction under TSX Venture Exchange policies as David Cates is a director of both Denison and Skyharbour.

Denison Earn-In Options:

The Earn-In Option Agreements grant Denison an option to earn additional interests in Wheeler North and Getty East.

Wheeler North Earn-In Option :

Under the terms of the Wheeler North Earn-In Option Agreement, Denison may acquire up to a 70% interest in Wheeler North. The option agreement contains two (2) phases, as summarized below:

Phase 1: To earn an additional 11% interest in Wheeler North (increasing Denison’s ownership to 60%), Denison must:

• Incur $10.0 million in exploration expenditures at Wheeler North within 48 months of Closing, of which $2.5 million in exploration expenditures must be completed within 24 months of Closing, and

• Make a cash payment in the amount of $1.5 million to Skyharbour within 48 months of Closing.

Phase 2: To earn an additional 10% interest (increasing Denison’s ownership to 70%) in Wheeler North, Denison must complete the requirements of Phase 1, plus the following:

• Incur an additional $15.0 million in exploration expenditures at Wheeler North within 7 years of Closing, and

• Make a further cash payment in the amount of $2.0 million to Skyharbour within 7 years of Closing.

Getty East Earn-In Option Agreement:

Under the terms of the Getty East Option Agreement, Denison may acquire up to a 70% interest in Getty East. The option agreement contains two (2) phases, as summarized below:

Phase 1: To earn an additional 19% interest in Getty East (increasing Denison’s ownership to 49%), Denison must incur $5.0 million in exploration expenditures at Getty East within 48 months of Closing, of which $1.5 million must be completed within the first 24 months of Closing.

Phase 2: To earn an additional 21% interest in Getty East (increasing Denison’s ownership to 70%), Denison must complete the requirements of Phase 1, plus incur an additional $10 million in exploration expenditures within 7 years of Closing. Upon completion of the Phase 2 earn-in option criteria, Denison will have the option to become the operator in this joint venture.

Russell Lake Uranium Project Overview:

The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,314 hectares strategically located between Cameco’s Key Lake and McArthur River Projects, and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the property and greatly enhances accessibility, while a high-voltage powerline is situated alongside this road.

Skyharbour’s New 80% Owned RL Project:

The claims making up the RL Project constitute over seventy percent of the original Russell project area and will continue to be explored by Skyharbour as the operator and 80% owner. Denison will acquire a 20% interest and has agreed to fund to maintain its pro-rata participation interest in the RL claims through December 31 ^st , 2029, or until such time that total expenditures on the properties have reached $10 million.

The RL claims have numerous highly prospective targets that Skyharbour will continue to advance. The Christie Lake target area contains basement-hosted uranium mineralization with historical drilling returning 0.17% U ₃ O ₈ over 0.4 metres at 436.4 metres depth in hole CL-10-03, hosted within a strongly hematized breccia. A prospective clay altered basement fault system runs throughout this area.

The Blue Steel target area comprises graphitic metasediments that were last drilled in 2008. The full extent of the graphitic corridor remains unknown and completely untested. Historical geophysics indicate potential faulting along this corridor, highlighting it as a priority area for follow-up work using modern geophysical methods to refine drill targets.

The Kowalchuk area, situated within the southern Russell claims, is another prospective area on the RL claims, with multiple inferred structural trends passing through it. This area has seen only limited modern geophysical coverage to date.

In addition to the aforementioned target areas, there are many kilometres of untested EM conductors on the RL claims underlain by rocks of low magnetic intensity, suggestive of the presence of prospective graphitic meta-pelitic basement lithologies typical of Athabasca-style uranium systems. With limited modern exploration conducted over the past 12 years, the RL claims remain underexplored and highly prospective for both expanding known mineralized zones and making new discoveries.

Advisors and Counsel:

Haywood Securities Inc. is acting as financial advisor to Skyharbour in connection with the Transaction, and AFG Law LLP and DuMoulin Black LLP are acting as legal counsel to Skyharbour.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in thirty-seven projects covering over 616,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, which hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling programs.

Skyharbour also has joint ventures with industry leaders Denison Mines, Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Russell, Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project.

In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $76 million in partner-funded exploration expenditures and over $42 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-2025-11-14-Updated.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including receipt of TSXV approval to the Transaction and the closing of the Transaction. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, exploration and development successes, regulatory approvals including TSXV approval, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information.

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; ‘ BRW ‘ or the ‘ Company ‘) is pleased to announce inaugural drilling results from its Anatacau Main Project, located in the Eeyou Istchee-James Bay region of Quebec. All drillholes were centered on the Anais showing and intercepted multiple, large spodumene-bearing pegmatites with rich lithium mineralization. The pegmatites are found along a major deformation corridor, reminiscent of the neighboring Galaxy deposit owned by Rio Tinto located 22 kilometers to the West.

Highlights include:

• 1.66% Li2O over 47.2 meters in drill hole AN-25-05 within a larger package of continuous lithium mineralization (present within both country rock and pegmatites) of 120.7 meters at 1.31% Li2O .
• Very high cesium values intercepted in multiple secondary sub-parallel dykes including 1.46% Cs2O over 1 meter and 0.8% Cs2O over 1 meter.
• This latest discovery is now drill traced over 170 meters of strike length and is open in all directions.

Mr. Killian Charles, President and CEO of BRW, commented: ‘Today’s exciting results underscores the opportunities across our continuously growing portfolio. We are rapidly starting to define a sizeable lithium system at Anatacau Main which, importantly, remains open in all directions. Furthermore, we are seeing mineralization constrained to the same structural corridor that is found at Rio Tinto’s Galaxy project (54.3Mt M&I at 1.30% Li2O and 55.9Mt Inferred at 1.29%, see Note ) and BRW’s Anatacau West. At Anatacau Main, we control over 18 kilometers of this highly prospective corridor which will be the focus of subsequent work in Q1 2026.

Between these strong results at Anatacau, a forthcoming maiden resource estimate for Mirage, an inaugural drill campaign in Greenland and further growth opportunities beyond the existing portfolio, Brunswick Exploration is among the most exciting companies in the lithium exploration space.’

Table 1 : Mineralized Intercepts from Inaugural Drilling Program at Anatacau Main

True thickness is estimated between 65% and 85%

Figure 1 : Surface Map of the Anatacau Main Project and Drill Holes Completed to Date

Results Interpretation

The largest pegmatite outcrop observed at the Anais showing has now been extended to over 170 meters in strike length and to a maximum depth of 98 meters. It remains open in all direction with an apparent thickness of 47.2 meters (DDH AN-25-05) at its widest point. The main pegmatite dyke is interpreted to be dipping 85 degrees to the West. Several other, well-mineralized stacked pegmatite intervals were also intercepted in all holes, demonstrating the potential for more dyke discoveries in the vicinity of the outcrop (Figure 1). The mineralized dykes discovered at Anatacau straddle the southern side of an interpreted major deformation zone, striking northwest-southeast; a structural control that is reminiscent of the Galaxy deposit (Figure 2). The different pegmatite dykes appear to be oriented North-South to Northeast-Southwest.

The pegmatite dykes show excellent continuity in terms and mineralogy and grade, with several high-grade zones intersected to date (Table 1, Figure 3). The mineralized pegmatite dykes typically exhibit massive to coarse crystals (15+centimeters) with a mineralogy consisting of quartz, white K-feldspar, plagioclase, white spodumene, and minor amounts of muscovite, fine-grained tourmaline, and blue apatite. Spodumene crystals are inclusion-free and are consistently white unlike spodumene mineralization found at the Galaxy deposit and Anatacau West which varies from off-white to greenish. Some pegmatite intervals are under the cut-off of 0.3% Li2O but demonstrate high values of tantalum and cesium (up to 1.46% Cs2O in a 1 meter interval). This highlights the potential for other types of mineralization and by-products at the Anatacau Main project, a feature uncommon in other James Bay projects.

Host rocks consist of greywacke and amphibolite, locally deformed into schist near the deformation zone where pegmatites seem to propagate well into both units. Holmquistite, a lithium amphibole, is commonly observed in all host rocks at varying concentrations (up to 1.5% Li2O in host rock) over significant widths. This pervasive lithium alteration is potentially indicative of significant lithium bearing fluids along the deformation corridor and could be potentially used as a vectoring tool for further discoveries.

A geometallurgical study is underway at SGS using DMS (Dense Media Separation) with results expected early in 2026.

Figure 2 : Regional Map of the Anatacau Main and Anatacau West Projects

Figure 3 : Cross Section A-A’ (see Figure 1 for Location)

Table 2 : Drill Hole Collars (UTM Nad83, Zone 18N)

Anatacau Drilling Campaign Overview

Six (6) diamond drill holes were completed (see Figure 1 and Table 2) for a total of 750 meters. The holes were spaced by 55 to 100m, and all holes intercepted mineralized pegmatites.

The aim of the 2025 drilling campaign was to test at shallow depths (less than 150 meters vertical depth) the pegmatite dykes mapped at surface on the Anaïs showing. The drilling campaign was performed in HQ size to perform a geometallurgical study, planned according to a grant from the Ministry of Natural Resources and Forests of the Quebec Government.

Brunswick Exploration discovered the Anais showing in 2023, which consists of several parallel pegmatite dykes with visible spodumene mineralization. The largest dyke found to date is exposed over a 15 m wide by 100m long outcrop. Several grab samples returned high grade values ranging from1.19 to 3.83% Li2O on the outcrop itself (see press release dated July 13, 2023). The Anais lithium discovery is located 22 kilometers East and along strike from Rio Tinto’s Galaxy project and BRW’s Anatacau West project.

Note

SEC Technical Report Summary for the James Bay Lithium Project prepared by SLR Consulting (Canada), Wave International Pty and WSP Canada for Arcadium Lithium Plc., dated August 31 2023

About the Anatacau Project

The Anatacau Main and the Anatacau West Projects are under option from Osisko GP, a subsidiary of Osisko Development whereby BRW can earn a 90% interest in the projects. For further details, please refer to the November 28, 2022 News release.

QAQC

All drill core samples were collected under the supervision of BRW employees and contractors. The drill core was transported by helicopter to the logging facility at camp Wabamisk. and by truck from the drill platform to the core logging Each core was then logged, photographed, tagged, and then packed to be shipped to Val-d’Or. Core splitting by diamond saw and sampling was done by BRW contractor at their Val-d’Or facility. All pegmatite intervals were sampled at approximately 1m intervals to ensure representativity, excluding all host rock material. Host rock was also sent for analysis 1m before and after each pegmatite interval. Samples were bagged, and blanks, pulp duplicates and certified reference materials for lithium were inserted at regular intervals. Groups of samples were placed in larger bags, sealed with numbered tags, in order to maintain a chain of custody. The sample bags were transported from BRW contractor facility to the Agat laboratory in Val-d’Or. All sample preparation and analytical work was performed by Agat Laboratories. Samples were crushed in order for 75% of the material to pass through a 2mm screen (method 200075), split to a sub-sample of 250g, and the split sample pulverized (200087) to obtain more than 85% of the material passing a 75µm screen. A sub-sample of the pulverized fraction was dissolved in a sodium peroxide solution, prior to lithium analysis by ICP-OES and ICP-MS according to the Agat method 201378. All results passed the QA/QC screening at the laboratory, and all inserted standard, duplicates and blanks returned results that were within acceptable limits. All reported drill intersections are calculated on the basis of a lower cutoff grade of 0.30% Li2O.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. François Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by National Instrument 43-101.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing its extensive grassroots lithium property portfolio in Canada and Greenland.

Investor Relations/information

Mr. Killian Charles, President and CEO ( info@brwexplo.ca )

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. 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 news release.

A tables accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1841b3d5-7add-44fc-9098-bfc9a3ad1b96

Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/8f3d17e7-4ea2-4967-9ae5-99fc74320957

https://www.globenewswire.com/NewsRoom/AttachmentNg/d76899b2-eec4-43a8-8af9-0c912d555c2a

https://www.globenewswire.com/NewsRoom/AttachmentNg/76da0e33-bcfd-4bc2-bbff-76e34511dfa7

Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) (‘ Copper Quest ‘ or the ‘ Company ‘) is pleased to announce that it has entered into an arms-length Option to Purchase Agreement (the ‘ Agreement ‘) dated November 7th, 2025 with 0847114 B.C. Ltd. (‘ Privco ‘), a British Columbia Incorporated company that holds 100% ownership, title, and interest in the Alpine Gold Property (the ‘ Property ‘), located in the West Kootenay region of British Columbia (the ‘ Acquisition ‘).

Highlights of the Alpine Gold Property

• 2018 NI43-101 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).
• Substantial opportunity to grow the maiden Alpine resource to the east-west and to depth with only about 300m of the roughly 2km long vein system explored to date by underground mine workings and drilling.
• Estimated 24,000 tonnes Run of Mine mineralized stockpile on surface presenting a possible near term cash flow opportunity.
• 1,650 meters of clean and dry underground workings accessing sampled and mineable zones.
• At least 4 additional relatively unexplored vein systems on the Property (Black Prince, Cold Blow, Gold Crown & past-producing King Solomon), all hosting historic high-grade gold values.
• Road accessible 4,611.49-hectare Property including 15 Crown Grants (1 with surface rights) and 19 staked mineral claims with all-season operation potential (Figure 1).
• Additions of Mr. Allan Matovich to the Board of Directors. Mr. Ted Muraro and Mr. John Mirko as Technical Advisors on closing. They have a combined mining and exploration experience of 150+ years in the industry.

The 4,611.49-hectare Property is approximately 20 kilometers northeast of the City of Nelson (Figure 1) and hosts the former operating underground mine with a recorded production of approximately 16,810 tonnes of mineralized vein material (Table 1). This material contained 356,360 grams of gold, 222,054 grams of silver, 49,329 kilograms of lead and 17,167 kilograms of zinc. The other 4 significant vein systems on the property will also be explored including the Black Prince and Cold Blow quartz veins approximately 3km to the northeast of the Alpine mine, the Gold Crown vein system 600m southeast, and the past-producing King Solomon vein workings 1.8km to the south. Further information about the Alpine Gold property will be forthcoming in the upcoming weeks.

Brian Thurston, President & CEO of Copper Quest, commented : ‘ With Gold prices at all-time highs, The Alpine Gold property creates a tremendous opportunity to create near term value. I look forward to closing the transaction and welcoming Mr. Matovich, Mr. Muraro and Mr. Mirko to the team.’

Figure 1: Location Claim Map

Appointment of Mr. Allan Matovich as Director

Copper Quest is also pleased to announce that upon closing of the acquisition, Mr. Allan Matovich will join the Company’s Board of Directors. Mr. Matovich is the principal owner of the Alpine Gold Property.

Mr. Matovich has 60+ years of mining and exploration experience in Canada and the United States. He first started with Cominco in Trail BC working in the smelter operation. Mr. Matovich then started Matovich Mining Industries where they supplied considerable tonnages of siliceous flux materials, lead and zinc concentrates to Cominco for over 20 years. Mr. Matovich then opened up a mining operation in 1997 in Northern British Columbia to supply barite for drilling fluids in the oil and gas industry. This mining operation is still in production today. Mr. Matovich also opened up a barite operation in Washington State that is going into production. He also worked with Halliburton, Baker Hughes, and Newmont and was very successful. In 2000, Mr. Matovich purchased the Alpine Gold Mine and since then has spent a considerable amount of time proving up the project.

Mr. Matovich commented ‘ I am very pleased to bring the Alpine Gold Property to Copper Quest and join as a director. The company has a fantastic portfolio of critical mineral projects advancing and the Alpine Gold Project gives a potential near term cash flow opportunity along with upside to grow the current resource with drilling. I look forward to working with the Copper Quest team to help create value for all stakeholders involved.’

Table 1 – Production History – Minfile (082FNW127) for Alpine Mine for gold (Au) and silver (Ag)

Appointment of Mr. Ted Muraro as Technical Advisor to the Board

Mr. Muraro will be appointed as Technical Advisor to the board on closing of the transaction. Mr. Theodore (Ted) W. Muraro has accumulated over six decades of experience in mineral exploration, including 35 years with Cominco where he advanced through Exploration to serve as the companies Chief Geologist and Internal Consulting Geologist. Early in his career, Mr. Muraro gained underground experience at Keno Hill, HB Mine, Sullivan, and Western Mines. His tenure at Cominco was marked by direct involvement in the discovery and subsequent successful development of the Westmin Mine at Buttle Lake, the Polaris Mine on Little Cornwallis Island in the high Arctic, and Snip Mine on the Iskut River. Following his service at Cominco, Mr. Muraro assumed the role of Vice President, Exploration at Romanex and International Barytex Resources, contributing his expertise to international gold projects.

Mr. Muraro, who was awarded the Spud Huestis award in 2021 for his outstanding contributions to the industry and excellence in exploration, worked as an independent consultant (T.W. Muraro Consulting 1993-2016) on base metal and gold exploration projects around the world until his retirement in 2016. In these later years, he served on several boards as Director and/or Advisor, most recently with Imperial Metals. Mr. Muraro’s working relationship with Al Matovich started in the Rossland Mining Camp and shifted to the Alpine Property in the late 80’s.

Appointment of Mr. John Mirko as Technical Advisor to the Board.

Mr. Mirko will be appointed as Technical Advisor to the board on closing of the transaction. Mr. Mirko has over 40 years’ experience in the mining industry, past President and Founder of Canam Alpine Ventures Ltd. (recently sold to Vizsla Resources Ltd.), currently President and Founder of Canam Mining Corp. and Rokmaster Resources Corporation.

From 1986 to 2010 Mr. Mirko the founder, President-CEO and Director of 4 public mining-exploration companies and a founder and Director of 3 others. He has been self-employed in the sector since 1972 as a prospector, contractor and consultant involved in exploration, development and mine construction of various projects in 12 counties, and commercial production of mineral concentrates and metal products from 5 of the projects.

In 2008, Mr. Mirko was a recipient of the ‘E. A. Scholtz Medal for Excellence in Mine Development’ from the Association for Mineral Exploration of British Columbia, and in 2009, the Mining Association of British Columbia’s ‘Mining and Sustainability Award’ for the MAX Mine.

Mr. Mirko is currently a member in good standing of the Society of Economic Geologists, Inc., the Canadian Institute of Mining, Metallurgy and Petroleum, the Prospectors and Developers Association of Canada and AME BC.

Transaction Details

The Agreement provides for the purchase of all the minerals claims and crown grants held by the Privco that make up the Alpine Gold Property. At closing Copper Quest will issue 14,177,517 Copper Quest common shares to Privco at a deemed price of $0.175c per share. The Shares will have a 24-month escrow agreement from closing date.

Additionally, Copper Quest will reimburse $225,000 towards the 2025 expenditures of the Property that was completed earlier this year and a 2 percent NSR will be granted to Privco on closing of the Acquisition with half being able to be bought back for CAD$1-million.

Closing is subject to a 45-day due diligence period, exchange approval and other customary closing conditions. Closing may occur prior to the 45-day due diligence period. A finder’s fee is payable in common shares in connection with the transaction.

Qualified Person

Brian Thurston, P.Geo., the Company’s President, CEO 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.

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 to contribute to the next generation of significant gold discoveries.

Stock Options

The Company has granted stock options to Directors, Management, and Consultants of the Company to acquire an aggregate of 2,600,000 common shares in the capital of the Company, pursuant to the Company’s Equity Incentive Plan. The stock options are each convertible into a common share of the Company at an exercise price of $0. 20 until November 13, 2030.

About Copper Quest Exploration Inc.

Copper Quest ( CSE: CQX; OTCQB: IMIMF; FRA: 3MX ) is focused on building shareholder value through strategic acquisitions and the exploration and development of its North American Critical Mineral portfolio of assets. The Company’s land package currently comprises five critical mineral projects that span over 40,000+ hectares in great mining jurisdictions.

Copper Quest has a 100% interest in the Stars Property, a porphyry copper-molybdenum discovery, covering 9,693 hectares in central British Columbia’s Bulkley Porphyry Belt. Contiguous to the Stars Property, Copper Quest has a 100% interest in the 5,389-hectare Stellar Property. CQX also has an earn-in option up to 80% and joint-venture agreement on the 4,700-hectare porphyry copper-molybdenum RIP Project, also in the Bulkley Porphyry Belt.

Copper Quest has a 100% interest in the Nekash Copper-Gold Project, a porphyry exploration opportunity located in Lemhi County, Idaho, 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 currently consists of 70 unpatented federal lode claims covering 585 hectares.

Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern BC which spans over 20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal mineralization potential.

Copper Quest’s leadership and advisory teams are senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Copper Quest is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which it operates. For more information on Copper Quest, please visit the Company’s website at Copper Quest .

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
info@copper.quest

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3309c0ba-17fd-4a57-b498-e8a3c49534fc