Conquest Resources Closes Non-Brokered Private Placement Financing

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[{"type":"text","content":"Conquest Resources Closes Non-Brokered Private Placement FinancingToronto, Ontario--(Newsfile Corp. - February 3, 2026) - Conquest Resources Limited (TSXV: CQR)  (\"Conquest\" or the \"Company\") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement, by issuing 6,000,000 flow-through shares as defined in the Income Tax Act (Canada) (\"FT Shares\") at a price of $0.075 per FT Share on a charity flow-through basis for gross proceeds of $450,000 (the \"FT Financing\"). The gross proceeds from the FT Financing will be used by the Company to incur eligible \"Canadian exploration expenses\" that qualify as \"flow-through critical mineral mining expenditures\" as both terms are defined in the Income Tax Act (Canada) related to the Company's Belfast-Teck Mag Project in Ontario. For any subscriber who is an individual in Ontario for the purposes of the Taxation Act (Ontario), or a partnership whose members are such individuals, the expenditures incurred by the Company from the FT Financing will also qualify as \"eligible Ontario exploration expenditures\" within the meaning of the Taxation Act (Ontario). The FT Shares will be subject to a hold period of four months and one day from the closing date of the FT Financing in accordance with applicable securities laws.In connection with the Financings, the Company has paid an aggregate of $9,000 in cash finder's fees to an arms' length party representing 6% of the gross proceeds of the FT Shares that were sold to subscribers introduced by such party.The Financings are subject to final acceptance of the TSX Venture Exchange.ABOUT CONQUESTConquest Resources Limited, 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% interest in the Belfast-Teck Mag Project, located in the Temagami Mining Camp at Emerald Lake, Ontario, which is believed to have exceptional exploration upside for magmatic sulphide deposits (Cu-Ni-PGE), VMS, IOCG, Iron formation hosted Au and Paleo-placer Au.The Belfast-Teck Mag 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 Exploratio...

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