Mr. Brian Thurston reports

COPPER QUEST ACQUIRES 100% INTEREST IN THE KITIMAT COPPER-GOLD PROJECT

Further to Copper Quest Exploration Inc.'s news release dated Oct. 30, 2025, it has exercised its option under an agreement with Bernie Kreft dated Oct. 29, 2025, and has acquired an undivided 100-per-cent right, title and interest in the Kitimat copper-gold project, located approximately 10 kilometres northwest of the deepwater port community of Kitimat, B.C.

Project overview

The Kitimat copper-gold project covers approximately 2,954 hectares within the Skeena mining division of northwestern British Columbia. The project is year-round road-accessible via a network of logging and mineral exploration roads extending north from Kitimat. The property benefits from exceptional infrastructure, being within 10 km of tidewater, 1.5 km of rail and six km of high-voltage hydroelectric transmission lines.

Geologically, the project is situated within the Stikine terrane, a prolific belt that hosts numerous porphyry copper-gold systems and is underlain by Late Triassic volcanic rocks intruded by Jurassic diorite and granodiorite bodies of the Coast Plutonic complex. The project's principal target areas is the Jeannette Cu-Au (copper-gold) zone displaying alteration and mineralization interpreted to represent low-level intermediate to low-sulphidation epithermal expressions of a larger Cu-Au porphyry system.

Historical exploration and highlights

Exploration on the Kitimat property dates back to the late 1960s, with multiple operators conducting geochemical, geophysical and drilling campaigns. The most significant historical work was conducted by Decade Resources Ltd. (2010), which completed 16 diamond drill holes totalling 4,437.5 metres in the Jeannette Cu-Au zone. Notable results include:

• Hole J-7: 117.07 metres grading 1.03 grams per tonne Au, 0.54 per cent Cu, from 1.52 m to 118.60 m;
• Hole J-1: 103.65 m grading 1.00 g/t Au, 0.55 per cent Cu, from 9.15 m to 112.80 m;
• Hole J-2: 107.01 m grading 0.80 g/t Au, 0.45 per cent Cu, from 6.10 m to 113.11 m;
• Hole J-8: 112.20 m grading 0.41 g/t Au, 0.33 per cent Cu, from 11.89 m to 124.09 m.

The mineralized intervals encountered in the 2010 drilling demonstrate continuous near-surface copper-gold mineralization extending over significant widths, remain open at depth within the Jeannette zone, and occur within a broader hydrothermal system that is interpreted to extend laterally beyond the area tested.

Acquisition details

Pursuant to the terms of the agreement and upon completion of its due diligence review, Copper Quest has issued two million common shares to the vendor, Bernie Kreft, at a deemed price of 16.5 cents per share as full consideration for the acquisition. The project is subject to a 2.5-per-cent net smelter return (NSR) royalty, of which 40 per cent may be repurchased by the company for $1-million. Copper Quest will also retain a right of first refusal on any transaction involving the sale of the remaining royalty interest. The company issued 256,800 finders' shares at a deemed price of 12.5 cents per finder's share in connection with the acquisition.

Mr. Kreft is a well-known Canadian prospector, entrepreneur and former star of the Discovery Channel's Yukon Gold television series. He has a long record of successful mineral discoveries and project generation across British Columbia and Yukon.

In addition to resale restrictions imposed by applicable securities laws, all shares issued in connection with the acquisition are subject to an exchange hold period (as such term is defined in the policies of the Canadian Securities Exchange (the CSE)).

Management comments

Brian Thurston, chief executive officer of Copper Quest, commented: "The addition of the Kitimat copper-gold project demonstrates Copper Quest's continued effort to add shareholder value through the acquisition of critical mineral projects and represents the fifth acquisition by the company in just over 12 months. This project is ideally located with exceptional infrastructure in a proven geological belt known for hosting major copper-gold systems. The strong historical drill results from the Jeannette zone speak to the potential of a larger near-surface mineralized system. We are very excited to have this exceptional asset as part of our growing copper-gold portfolio."

Next steps

The company plans to leverage artificial intelligence (AI) analysis to integrate all historical and modern exploration data to establish a comprehensive geological and geophysical model for the Kitimat porphyry project and improve targeting precision. See news release dated Dec. 1, 2025.

Upon receiving a work permit, additional geological mapping, sampling and geophysical surveys may be completed to refine priority drill targets as required. Fieldwork could include ground magnetics, induced polarization (IP) and passive seismic to better define subsurface structure and mineralization trends.

A follow-up drill program would test key targets within the interpreted geology and surrounding high-grade corridors.

Qualified person

Brian G. Thurston, PGeo, the company's president and chief executive officer 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.

About copper

Despite surging demand, global copper supply remains constrained. Ore grades are declining at major mines, permitting timelines for new projects have lengthened and geopolitical tensions are reshaping supply chains toward stable, transparent jurisdictions. Governments in Canada, the United States and allied nations have increasingly identified copper as a strategic and critical metal necessary for economic and national security. Within this context, Copper Quest's acquisition of the Kitimat copper-gold project in British Columbia positions the company to advance a discovery-stage asset in one of the world's safest and most infrastructure-rich mining jurisdictions -- precisely when new, scalable copper sources are most needed.

About Copper Quest Exploration Inc.

Copper Quest is committed to building shareholder value through acquisitions, discovery-driven exploration, disciplined execution and responsible development of its North American critical mineral portfolio of assets. The company's land package currently comprises seven projects that span over 45,000-plus hectares in great mining jurisdictions.

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