Copper Quest Completes Positive Alpine Due Diligence and Increases Private Placement
Executive Summary
- Copper Quest completed due‑diligence on an arms‑length option to purchase the Alpine Gold Property and will acquire the property by issuing ~14.2 M common shares at a deemed $0.00175 per share, plus cash and a 2 % NSR.
- The company announced a supplemental flow‑through private placement of up to 1.5 M additional common shares at $0.19 each for gross proceeds of up to $285 k to fund exploration.
- Three senior industry veterans (Allan Matovich, Ted Muraro and John Mirko) will join the board or serve as technical advisors upon closing, bolstering management expertise.
Key Details
- Acquisition Structure:
- Purchase of all mineral claims and Crown grants for the Alpine Gold Property from 0847114 B.C. Ltd. (Privco).
- Issue of 14,177,517 Copper Quest common shares to Privco at a deemed price of $0.00175 per share.
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Shares subject to a 24‑month escrow.
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Cash & Royalty Consideration:
- Cash payment of $225,000 toward 2025 property expenditures.
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Grant of a 2 % Net Smelter Return (NSR) to Privco, with half purchasable back for CAD $1 million.
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Closing Conditions:
- Subject to exchange approval and customary closing conditions.
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Finder’s fee payable in common shares.
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Board & Advisory Appointments (effective upon closing):
- Allan Matovich – Director (principal owner of Alpine Gold Property).
- Ted Muraro – Technical Advisor to the Board.
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John Mirko – Technical Advisor to the Board.
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Alpine Gold Property Highlights:
- NI 43‑101 inferred resource (2018) – 268,000 t at 16.52 g/t Au, equating to 142,000 oz Au.
- Historical production: ~16,810 t of vein material containing 356,360 g Au, 222,054 g Ag, 49,329 kg Pb, 17,167 kg Zn.
- Existing 24,000 t run‑of‑mine mineralized stockpile (potential near‑term cash flow).
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~1,650 m of clean underground workings and four additional vein systems (Black Prince, Cold Blow, Gold Crown, King Solomon) remain to be explored.
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Financing Update – Flow‑Through Private Placement:
- Up to 1,500,000 common shares on a flow‑through basis at $0.19 per share.
- Target gross proceeds: $285,000 (closing no later than 2025‑12‑22).
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Proceeds earmarked for exploration and related programs qualifying as Canadian Exploration Expenses and Flow‑Through Critical Mineral Mining Expenditures.
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Qualified Person: Brian Thurston, P.Geo., President & CEO, reviewed and approved technical information per NI 43‑101.
Notable Quotes
“The Alpine Gold property presents a tremendous opportunity to create near term value for our shareholders… Our recent closing of approximately $2 million in financing ensures that our shareholders will see work put into the ground to advance our multiple properties.” – Brian Thurston, President & CEO
“I am very pleased to bring the Alpine Gold Property to Copper Quest and join as a director… I look forward to working with the Copper Quest team to help create value for all stakeholders involved.” – Allan Matovich, Director‑designate