Copper Quest Exploration 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.
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.
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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.
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.
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