Mr. Brian Thurston reports

COPPER QUEST COMPLETES THE AUXER GOLD PROPERTY ACQUISITION TO EXPAND US OPERATIONS

Further to the news release dated Feb. 11, 2026, Copper Quest Exploration Inc. has completed an arm's-length purchase agreement dated Feb. 9, 2026, to acquire 100 per cent of the possessory rights and interest in and to the Auxer gold property, located in Bonner county, Idaho, United States, increasing its U.S. exposure to prospective gold and copper assets across North America.

Highlights of the Auxer gold property:

• Road-accessible 1,087-hectare property including 130 unpatented lode claims with proximity to the BNSF railway mainline reducing transportation costs and development timelines compared with remote exploration projects;
• Seven-kilometre strike length of mineralization shows strong geological similarities to orogenic gold settings with multiple high-grade ore shoots indicating the potential for a substantial underground mining operation;
• 1,000 metres of underground workings accessing historically sampled and minable zones provide valuable geological data and potential cost savings through existing access points;
• Permitted for drilling through the IPNF decision memo, providing immediate authorization for a surface diamond drill program;
• Permitted to re-establish underground access of historical workings providing an immediate opportunity to re-examine and sample the extensive historical workings, including the Boston vein and Chicago vein systems, potentially accommodating future underground drill programs;
• Proven near-surface, high-grade mineralization with historical underground development and modern exploration results by Lightning Creek Gold Corp. with grades up to 26.8 grams per tonne gold;
• Permitted infrastructure authorizations including temporary road construction, overland travel access and water withdrawal permits;
• Benefiting from Idaho's established mining jurisdiction, featuring comprehensive regulatory frameworks, experienced mining contractors and proximity to essential infrastructure.

About the Auxer gold property

The Auxer gold project is located in Bonner county, Idaho, United States, approximately four miles northeast of the town of Hope in a direct line. The property sits at an elevation of 1,603 meters (5,259 feet) in the Cabinet Mountain Range, positioned in a glacial cirque on the north side of the ridge near the head of Wellington Creek. The project encompasses 130 unpatented lode claims covering a total area of 2,687 acres, primarily located in township 57 North, range 2 East, Boise meridian.

The Auxer gold project represents a compelling orogenic gold opportunity, positioned along one of the region's most significant structural corridors. Located within the prolific Hope fault system, featuring five kilometres of vertical throw and over 25 kilometres of horizontal offset, the project sits strategically near a critical 25-degree bend, where secondary structures like the Auxer fault create ideal gold trap geometries. This structural setting, combined with the presence of iron-rich quartz diorite sills overlying kilometres of sulphide-bearing Lower Prichard formation pelitic sediments, creates all the geological hallmarks of an orogenic gold system as outlined in modern deposit models.

Historical exploration has demonstrated significant gold grades, with the 1936 Platts report documenting up to 21.0 g/t Au in surface samples and underground workings showing consistent mineralization over 4.3-metre widths averaging 9.42 g/t Au at an 18-metre depth. Drilling by Lightning Creek Gold in 2021 has validated this mineralization potential with intercept LCD21-0019 returning 26.8 g/t Au over 0.73 metre.

Prior to Lightning Creek, the Auxer gold project has seen no historical drilling, with prior exploration limited to underground workings and tunnels driven during the early 20th century. Operations ceased in the 1930s following executive orders that effectively curtailed small-scale gold mining, and the project was never reopened. As a result, Auxer represents a rare opportunity to apply modern exploration techniques to a property of strong geological merit that has remained largely untested. The project exhibits many of the defining characteristics of major orogenic gold systems recognized globally, and is situated in the politically stable and mining-friendly jurisdiction of Idaho, with proximity to major permanent infrastructure, including nearby highway access and an active BNSF railway mainline.

The project is typically accessed from Highway 200 through 16 miles of maintained United States Forest Service gravel roads. Due to storm-related bridge damage in early 2026, vehicle access is currently planned through a five-mile ATV trail from the town of Hope. The U.S. Forest Service has indicated a willingness to accommodate planned work programs through this route during the 2026 field season. The property's proximity to Highway 200 and the BNSF railway mainline continues to support favourable long-term development logistics.

Brian Thurston, president and chief executive officer of Copper Quest, commented: "The Auxer gold project represents a timely opportunity to increase our gold exposure in one of North America's most mining-friendly regions with gold prices at all-time highs. The Auxer is just the latest acquisition for Copper Quest and adds to our existing gold portfolio, including the past-producing Alpine gold mine located approximately 150 kilometres to the northwest. From a geological perspective, the Auxer project exhibits all the hallmarks of other mineralized orogenic gold systems as defined by contemporary deposit models. The expansion of the Boston vein from 0.6 m at surface to 3.66 m at a 20-metre depth demonstrates classic orogenic gold vein geometry with strong depth continuation potential with mineralization extending over multiple kilometres."

Qualified person

Joshua White, PGeo, a technical adviser to the company, a principle of Lightning Creek Gold, 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.

Transaction details

Under the terms of the agreement, Copper Quest has issued two million common shares at a deemed price of 15 cents per share and will pay a non-refundable one-time fee of $30,000 (U.S.) to the vendor in exchange for 100-per-cent possessory rights and interest in the project. The issued common shares of the company in connection with the transaction have been escrowed with staged releases over 12 months from the date of closing. Closing is subject to exchange approval and other customary closing conditions. A finder's fee of 138,655 common shares at a deemed price of 15 cents per share has been paid in connection with the transaction. All securities issued in connection with the acquisition are subject to a statutory hold period of four months and one day from the date of issuance.

Gold: global demand and supply

Global demand for gold remains strong, supported by persistent geopolitical uncertainty, inflationary pressures and continuing 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 and Auxer to contribute to the next generation of significant gold discoveries.

About Copper Quest Exploration Inc.

The company's landholdings comprise eight projects that span over 46,000 hectares in great mining jurisdictions of Canada and the United States. Copper Quest is committed to building shareholder value through acquisitions, discovery-driven exploration and responsible development of its North American portfolio of assets. The company's common shares are principally listed on the Canadian Securities Exchange under the symbol CQX.

Copper Quest has a 100-per-cent interest in the past-producing Alpine gold mine located approximately 20 kilometres northeast of the city of Nelson, B.C., spanning 4,611.49 hectares with a 2018 National Instrument 43-101 (Standards of Disclosure for Mineral Projects) historical 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 ounces of gold (McCuaig and Giroux, March 6, 2018, NI 43-101 technical report for the Alpine property, British Columbia, Canada). Further drilling is necessary by the company to upgrade/verify the estimate. The qualified person has not done sufficient work to make the resource current, and the company is not treating the estimate as current. Apart from the Alpine mine itself, the property hosts four other less explored significant vein systems, including the past-producing King Solomon vein workings, the Black Prince and the Cold Blow vein system, and the Gold Crown vein system. The company has not yet completed sufficient work to verify the 2018 historic inferred resource results.

Copper Quest has a 100-per-cent interest in the road-accessible Stars porphyry copper-molybdenum property, spanning 9,693 hectares in central British Columbia's Bulkley porphyry belt with Tana zone discovery drill intersection highlights of 0.466 per cent Cu over 195.07 m in drill hole DD18SS004 from 23.47 m, 0.200 per cent Cu over 396.67 m in drill hole DD18SS010 from 29.37 m, and 0.205 per cent Cu over 207.27 m in drill hole DD18SS015 from 163.98 m. This highly prospective, approximately five-by-2.5-kilometre annular magnetic anomaly is interpreted to represent an altered monzonite intrusion and surrounding hornfels.

Copper Quest has a 100-per-cent interest in the road-accessible Kitimat copper-gold property, spanning 2,954 hectares within the Skeena mining division of northwestern British Columbia located northwest of the deepwater port community of Kitimat, B.C. 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. Exploration on the Kitimat property dates to the late 1960s, with the most significant historical work conducted by Decade Resources Ltd. (2010), which completed 16 diamond drill holes totalling 4,437.5 metres in the Jeannette Cu-Au zone, and drill intersection highlights of 0.54 per cent Cu and 1.03 g/t Au over 117.07 m in hole J-7 from 1.52 m, 0.55 per cent Cu and 1.00 g/t Au over 103.65 m in hole J-1 from 9.15 m, 0.45 per cent Cu and 0.80 g/t Au over 107.01 m in hole J-2 from 6.10 m, and 0.33 per cent Cu and 0.41 g/t Au over 112.20 m in hole J-8 from 11.89 m.

Copper Quest has a 100-per-cent interest in the past-producing, road-accessible Auxer gold mine, spanning 1,087 hectares located in Bonner county, Idaho, United States. This orogenic gold opportunity is positioned along one of the region's most significant structural corridors located within the prolific Hope fault system. Historical exploration has demonstrated exceptional gold grades, with the 1936 Platts report documenting up to 21.0 g/t Au in surface samples and underground workings showing consistent mineralization over 4.3-metre widths averaging 9.42 g/t Au at an 18-metre depth.

Copper Quest has a 100-per-cent interest in the Nekash copper-gold project, a porphyry exploration opportunity located in Lemhi county, Idaho, United States, along the prolific Idaho-Montana porphyry copper belt that hosts world-class systems such as Butte and Cumo. The project is fully road accessible through maintained U.S. highways and forest service roads, and consists of 70 unpatented federal lode claims covering 585 hectares.

Copper Quest has a 100-per-cent interest in the road-accessible Stellar property, spanning 5,389 hectares in British Columbia's Bulkley porphyry belt contiguous to the Stars property. Copper Quest has a 100-per-cent interest in the Thane project located in the Quesnel terrane of Northern British Columbia spanning over 20,658 hectares with 10 priority targets identified demonstrating significant copper and precious metal mineralization potential.

Copper Quest has an earn-in option of up to 80 per cent and a joint venture agreement on the road-accessible Rip porphyry copper-molybdenum project, spanning 4,700 hectares located in the Bulkley porphyry belt in central British Columbia.

We seek Safe Harbor.