Metalquest releases 2025 ESG/sustainablity report

Executive Summary

• Metalquest Mining Inc. published its third annual ESG/Sustainability Report for 2025, focusing on the Lac Otelnuk iron ore project in Quebec. The report notes that emissions are immaterial due to the early-stage, desktop-based nature of current activities.
• The company announced the acquisition of the ROF-1 project, a critical mineral land package in Ontario's Ring of Fire, totaling 1,034 claims (approx. 20,800 hectares). This is part of a broader strategy to build a multiproject portfolio in the region.
• Metalquest detailed its strategic alignment with New Age Metals, which has also advanced into the Ring of Fire. Together, the companies hold approximately 62,800 hectares of exploration ground. Additionally, Metalquest holds significant assets in Canadian Copper (CCI), including shares, warrants, and NSR royalties on the Murray Brook deposit.

Key Details

• ESG Report Scope: The 2025 report covers the Lac Otelnuk iron ore project in Quebec. Emissions are described as immaterial and minimal, relating only to routine administrative/office work; formal quantification was not undertaken.
• Stakeholder Engagement: The report highlights an exploration and predevelopment agreement signed on Dec. 12, 2023, with the Naskapi Nation of Kawawachikamach. It also mentions ongoing dialogue with other First Nations, local custodians, and regional authorities.
• Lac Otelnuk Project Updates:
  • The Quebec government has transferred 100% of the claims to Metalquest.
  • Approximately $120 million has been expended on the project to date.
  • In June 2025, Metalquest signed an agreement with AtkinsRealis to conduct a comprehensive gap analysis of the historic 2015 feasibility study to align it with current market dynamics and regulations.
• ROF-1 Project Acquisition:
  • Announced on Dec. 3, 2025.
  • Located in Ontario's Ring of Fire.
  • Totaling 1,034 claims (approx. 20,800 hectares / 52,000 acres).
  • Identified exploration potential for volcanogenic massive sulphide style mineralization.
• New Age Metals Partnership:
  • New Age Metals is a significant shareholder of Metalquest.
  • Together, the companies have assembled approx. 62,800 hectares (155,200 acres) consisting of 3,067 mining claims.
  • The portfolio is subject to a 1.0% net smelter royalty with a 0.5% buyback option.
• Canadian Copper (CCI) Assets:
  • Metalquest owns approx. 1.8 million free-trading shares and 2.5 million warrants (strike price: 12.5 cents CAD) in Canadian Copper.
  • As of Jan. 19, 2026, CCI shares were trading at 61 cents.
  • Metalquest holds two NSR royalties totaling 1% in the Murray Brook zinc-polymetallic deposit in New Brunswick.
  • CCI must pay a pre-production cash payment of $1 million before production.
  • CCI has the right to purchase half of a 0.33% royalty for $1 million; if exercised, Metalquest retains a 0.82% royalty in perpetuity.
  • Metalquest is completing a preliminary economic assessment (PEA) on processing Murray Brook at the Caribou processing complex, with a release expected in the first half of 2026.
• Superior Iron Project:
  • Initial phase of work planned for winter/spring 2026.
  • Activities include systematic ground truthing, detailed geophysical surveys, and environmental baseline studies.

Notable Quotes

• Harry Barr, CEO and Chairman: "On behalf of the board of directors and management team, I am pleased to present Metalquest Mining's third annual ESG and sustainability report for the year 2025."
• Harry Barr, CEO and Chairman: "Since MQM's inception, our approach to advancing any project has been anchored in the early identification and engagement of key stakeholders... We have dedicated substantial time, effort and resources toward building these relationships and ensuring responsible project development."
• Harry Barr, CEO and Chairman: "At MQM, we firmly believe that, while a project's success may be reflected in its financial results and economic potential, its long-term sustainability depends on strong environmental, social and governance performance. This commitment not only guides our decision making but also helps secure the trust and social licence necessary to operate responsibly and successfully."