// Not for distribution to the United States newswire services or for dissemination in the United States //
VANCOUVER, British Columbia, Sept. 22, 2025 (GLOBE NEWSWIRE) — Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) (“Copper Quest” or the “Company”) is pleased to announce that it has closed the previously announced acquisition of the Nekash Copper-Gold Porphyry Project (“Nekash” or the “Project”) located in Lemhi County, Idaho, United States. This acquisition marks an important milestone in the Company’s strategy to build a portfolio of highly prospective copper assets across North America.
About the Nekash Project
The Nekash Copper-Gold Project is a porphyry exploration opportunity located in Lemhi County, Idaho, along the prolific Idaho-Montana porphyry copper belt that hosts several gold and copper deposits including world-class systems such as Butte and CUMO (Figures 1 & 2). 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 an area of 585 hectares.
Historic evaluation by the U.S. Bureau of Mines and more recent work has confirmed the presence of outcropping phyllic alteration, copper-gold quartz veins, stockwork veining, and a stratabound “manto” horizon grading up to 3.8% Cu, 0.9 g/t Au, and 25 g/t Ag, with the sample returning 3.8% Cu having been taken across 6.4 metres. Rock chip samples from zones of porphyry-style veining have returned assays as high as 6.6% Cu and 0.6 g/t Au, highlighting the robust tenor of mineralization at surface.
Geologically, Nekash is interpreted to represent a large, blind porphyry system intruding Mesoproterozoic sediments of the Dahlonega Creek Formation. Surface mineralization, alteration, and geochemical anomalies point to a buried copper-gold porphyry center at depth, with the overlying “manto” horizon potentially representing a carbonate-replacement style halo. The project lies along the Trans-Challis shear zone, a regional-scale structure that has acted as a plumbing system for major mineralizing events. Historical placer gold production reported just across the border in Montana suggests a compelling district-scale potential for the Nekash Property.
Copper Quest intends to build on the previous exploration work with modern geophysics, geochemistry, and drilling to unlock the full opportunity of this underexplored system.
Appointment of Joshua White, P.Geo., as Technical Advisor
Copper Quest is also pleased to announce the appointment of Joshua White, P.Geo., as Technical Advisor to the Company and Aqua Terra Geoscientists LLC as the Nekash project management company.
Mr. White is an exploration geologist with over 13 years of experience and a principal of Aqua Terra Geoscientists LLC. He was a United States Marine combat engineer who served two tours in Iraq. After returning home in 2005, he earned a Bachelor of Science Degree in Geology from the University of Wyoming, followed by a Masters Degree of Science in Geosciences from Montana Tech. He worked for Kinross Gold as a project generation gold geologist, working at mines and exploration projects on 4 different continents. He has experience with epithermal gold, porphyry copper, reduced intrusion related gold, orogenic gold, and sediment hosted copper systems. He left Kinross as a senior project geologist at the Paracatu gold mine in Brazil to become an entrepreneur in the junior exploration space.
“We are extremely pleased to complete the acquisition of Nekash, which we view as a highly prospective copper-gold porphyry target in one of the most compelling emerging copper districts in the United States” said Brian Thurston, CEO of Copper Quest. “The combination of strong surface results, favourable geology, and district-scale potential make Nekash an ideal addition to our North American portfolio. With Josh White joining our Idaho team, we are well positioned to demonstrate the scale of opportunity at Nekash and unlock shareholder value through systematic exploration.”
Idaho Copper Story & Comparables
Idaho is rapidly emerging as a copper exploration frontier, underpinned by its location on the Idaho-Montana porphyry copper belt. The state hosts notable systems including Butte (Montana), CUMO (Idaho), and the recent Grizzly copper-gold porphyry discovery by Hercules Metals Corp.
Hercules’ Grizzly discovery underscores the potential for large-scale porphyry systems in the belt and demonstrates growing investor recognition of Idaho’s copper potential. Idaho’s porphyry endowment has been underexplored relative to neighbouring states, yet it contains the geological hallmarks for major copper-gold systems. Projects like Hercules Metals’ Grizzly discovery, demonstrate the potential for blind porphyry systems hidden beneath cover similar to what Copper Quest sees as the potential at Nekash.
Nekash sits in a favourable geological corridor with comparables that demonstrate the scale and grade potential of porphyries in this belt. As copper supply chains shift toward North America, Idaho offers a mining-friendly jurisdiction with infrastructure, supportive regulatory frameworks, and strong precedent for major copper developments. Copper Quest’s entry into Idaho provides shareholders with exposure to a new frontier of porphyry exploration in a tier-one jurisdiction.
Figure 2: Porphyry Deposits in the Idaho-Montana porphyry belt
Copper: U.S. Policy and Macroeconomic Context
With President Trump’s administration undertaking investigations into copper imports and tariffs, there is renewed urgency to redefine and realign domestic copper supply chains. Policymakers have highlighted the strategic importance of copper in energy, defense, and technology, with incentives emerging for the advancement of U.S.-based projects. Against this backdrop, Copper Quest’s entry into Idaho positions the Company to benefit from potential policy tailwinds and domestic supply security initiatives.
Copper: Global Demand & Supply
Globally, copper demand continues to surge, driven by electrification, electric vehicles, renewable energy, and the massive expansion of AI and data center infrastructure. Yet supply remains constrained, with declining grades at existing mines, limited new discoveries, and prolonged permitting timelines. The resulting supply-demand imbalance underscores the importance of advancing new porphyry discoveries in stable jurisdictions like the U.S.. Copper Quest is aligned with this macro trend, positioning Nekash to become part of the next generation of copper discoveries.
Terms of the Transaction
Under the terms of the agreement, Copper Quest has acquired a 100% interest in the Nekash Project through the issuance of 4,250,000 common shares of the Company. The shares will be subject to a 16-month escrowed leak out from the date of closing. There is no cash component and no royalty payable as part of the transaction. An all-share finder’s fee is payable in connection with the acquisition.
Stock Options
The Company has granted stock options to Consultants of the Company to acquire an aggregate of 450,000 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 $0.12 until Sept 22, 2030.
About Copper Quest Exploration Inc.
Copper Quest (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) is focused on building shareholder value through the exploration and development of its North American Critical Mineral portfolio of assets. The Company’s land package currently comprises five 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. 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 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:
Kelly Abbott
Investor Relations
[email protected]
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.
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d6b31257-1ec1-4d89-983e-cec321a1ba2b
https://www.globenewswire.com/NewsRoom/AttachmentNg/78e0881f-ed51-423c-b4d8-09a0d12075d8
