Mr. Tom Obradovich reports

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

Conquest Resources Ltd. has entered into a letter of intent (LOI) to acquire 100 per cent of the outstanding shares of Carrigel Ltd. on Nov. 27, 2025, a private company incorporated in Ireland, which owns a 100-per-cent interest in the Valimaki gold project in Finland.

The Valimaki gold project comprises a 23,197-hectare exploration reservation located in southern Finland which contains a 15-kilometre trend that has an extensive train of gold-rich boulders. Within the boulder train, historic sampling has produced greater than 150 boulders with assays greater than one gram per tonne Au, with assays as high as 60 g/t Au.

Tom Obradovich, chief executive officer of Conquest, comments: "We are excited to begin exploration on the Valimaki gold project which has had limited modern exploration geophysics or detailed mapping. We have engaged an experienced team of geologists and geophysical contractors to begin establishing drill targets in early spring of 2026. Drill testing is planned for late summer and fall when the required permitting is in place."

About the Valimaki gold project

The Valimaki gold project is located to the east of Pori, a regional industrial city, in southwestern Finland. The project area has excellent infrastructure and can be accessed year-round.

The project is located within the Svencofennian geologic domain within supracrustal rocks that are located between two major structural features; to the southwest, the Kynsikangas shear zone, and to the northeast, the Kankaanpaa shear zone. Both major structures trend NW-SE (northwest-southeast) while stratigraphy and fold axes between the structures trend northeast. Gold mineralization is hosted in amphibolite-grade sedimentary, volcanic and intrusive rocks, with a strong association with arsenopyrite and quartz veining. Au is also associated with Sb-Te-Bi-W-Ag (antimony-tellurium-bismuth-tungsten-silver), which is typical of orogenic gold deposits.

Gold was originally found in the 1950s by Outukumpu Oy who explored the area intermittently during the 1950s and 1980s. Geologian Tutkimuskeskus (GTK) conducted multiple exploration programs during the 1980s to 2010s which included till geochemistry, heavy mineral concentrates, magnetics and a total of approximately 2,800 metres of diamond drilling. Best intersects include 4.3 metres at 7.2 grams per tonne (GTK report 75/2016 -- ore potential of the Kullaa zone, Saarijarvi and Kultakallio Au mineralizations) and seven metres at 3.9 g/t Au (R309, GTK report M06/1143/2006/10/1 -- research report on ore exploration in the municipality of Kullaa, in the authority of Valimaki, mining register No. 7101/1).

Many of the auriferous boulders were discovered by local prospectors and analyzed through GTK's citizen's sampling program where local prospectors can send samples to GTK for analysis and receive a reward if they lead to a new exploration target.

Commercial terms

Conquest has entered into a non-binding letter of intent (LOI) with Carrigel to acquire 100 per cent of the outstanding shares of Carrigel for the following terms:

• Five million common shares of Conquest approval of the TSX Venture Exchange of formal agreement;
• $35,000 cash payment upon approval of the TSX-V of formal agreement;
• Five million common shares of Conquest on receipt of drill permits;
• 2-per-cent net smelter royalty with 1 per cent being buyable for $3-million.

Exploration plan

Conquest plans to undertake exploration activities in the spring to define drill targets within the Valimaki project area. Activities will include: geologic mapping, prospecting, drone magnetics and an induced polarization survey.

Qualified person

The technical content of this news release has been reviewed and approved by Joerg Kleinboeck, PGeo, a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Kleinboeck has verified the technical data disclosed in this release, and consents to its publication.

About Conquest Resources Ltd.

Conquest Resources, incorporated in 1945, is a mineral exploration company that is exploring for base metals and gold on mineral properties in Ontario.

Conquest holds a 100-per-cent interest in the Belfast-TeckMag project, located in the Temagami mining camp at Emerald Lake, Ont., which is believed to have exceptional exploration upside for magmatic sulphide deposits (Cu-Ni-PGE) (copper-nickel-platinum group element), VMS (volcanogenic massive sulphide), IOCG (iron-oxide-copper-gold), iron formation hosted Au and Paleo-placer Au.

The Belfast-TeckMag project is the company's flagship property, evolved from the Golden Rose project, which was initially acquired in December, 2017, and significantly augmented through the acquisition of Canadian Continental Exploration Corp. (CCEC) in 2020 and subsequent additional claim staking and purchases in its adjacent Belfast copper property and TeckMag property.

Conquest now controls over 300 square kilometres of underexplored territory in the Temagami mining camp, including the past-producing Golden Rose mine at Emerald Lake.

Conquest also holds a 100-per-cent interest in the Alexander gold property located immediately east of the Red Lake and Campbell mines in the heart of the Red Lake gold camp along the important Mine Trend regional structure. Conquest's property is almost entirely surrounded by Evolution Mining landholdings.

In addition, the company holds interests in the Smith Lake gold property and Lake Nipigon basin property.