CONQUEST RESOURCES SIGNS LOI TO ACQUIRE THE VALIMAKI GOLD PROJECT IN FINLAND

Conquest Resources Limited has entered into a Letter of Intent to acquire 100% of the outstanding shares of Carrigel Ltd., an Irish company that owns the Valimaki Gold Project in Finland. The acquisition represents a significant international expansion for the Toronto-listed exploration company, moving beyond its established Ontario operations into the prospective Fennoscandian Shield.

The Valimaki Gold Project encompasses 23,197 hectares in southern Finland and features an impressive 15-kilometer trend of gold-rich boulders, with over 150 boulders returning assays greater than 1 g/t Au and peak values reaching 60 g/t Au. Historical work by Outukumpu Oy and the Geological Survey of Finland (GTK) included approximately 2,800 meters of diamond drilling that returned notable intersections of 4.3 meters at 7.2 g/t Au and 7 meters at 3.9 g/t Au. The project sits within the Svencofennian geologic domain between two major shear zones, in terrain known to host orogenic gold deposits.

The commercial terms include an initial payment of 5 million Conquest shares and $35,000 CAD upon TSXV approval, followed by an additional 5 million shares upon receipt of drill permits, plus a 2% net smelter royalty with a 1% buyback option for $3 million CAD. This structure aligns vendor compensation with project advancement milestones and preserves Conquest's cash position while providing meaningful upside participation to the seller.

Conquest plans to commence systematic exploration in spring 2026, including geological mapping, prospecting, drone magnetics, and induced polarization surveys to define drill targets. The company has engaged experienced geological and geophysical contractors and expects to begin drilling in late summer 2026 pending permit approvals. This timeline reflects the company's methodical approach to advancing the project through modern exploration techniques that were not extensively applied during historical work phases. The acquisition positions Conquest to capitalize on Finland's stable mining jurisdiction and established infrastructure while diversifying its portfolio beyond its current Ontario-focused assets.