AUQ Gold Mining completes Lac Crystal acquisition

The most recent news, dated November 28, 2025, announces that AUQ Gold Mining Inc. has completed the acquisition of the Lac Crystal copper-polymetallic project in Quebec's Gaspé Peninsula. This follows the company's announcement of the acquisition agreement on October 20, 2025. The completion of the transaction required and received the approval of the TSX Venture Exchange. As per the original agreement, the company has issued 60,000 common shares to the vendor.

The completion of the Lac Crystal acquisition is a routine, procedural step that finalizes a previously announced agreement. The material news was the announcement on October 20, which introduced the new project to the market and outlined its potential. This finalization is positive as it officially adds the asset to the company's portfolio, but it was fully expected and should not have a material impact on the stock price in isolation.

Looking at the progression of news over the last year, AUQ has undergone a significant transformation. - Financial Turnaround: The company started 2025 in a dire financial position, with negligible cash and a significant working capital deficit as shown in its January and June financial statements. The $1 million private placement at $0.25 in August 2025 was a critical lifeline that recapitalized the company. The October 30 financials (for the period ending Aug 31) confirm this, showing $635k in cash and a positive working capital position of approximately $448k. - Asset Acquisition: The company has pivoted its strategy by acquiring two key Quebec-based projects in 2025. First, the Bellechasse Timmins (B-T) gold project, which has a historical NI 43-101 resource estimate from 2012. Second, the early-stage Lac Crystal copper project, which diversifies the company into critical metals. - Market Reaction: The market has responded very positively to this transformation. The stock price has risen from the $0.25 financing level to a recent high of $0.90, reflecting investor optimism about the new assets and improved financial health.

The completion of the Lac Crystal acquisition is the last step in this recent phase of restructuring and acquisition. While the news itself is routine, it solidifies the company's new two-pronged strategy focused on gold (Bellechasse Timmins) and copper (Lac Crystal) in Quebec. The market has already priced in this acquisition; the real test will be the company's ability to advance these projects.

AUQ Gold Mining Inc. is a Canadian junior exploration company focused on acquiring and developing mineral properties in Quebec. - Flagship Project: The Bellechasse Timmins (B-T) Gold Project, acquired in 2025, is its most advanced asset. Located approximately 100 km from Quebec City, the project hosts a historical (2012) NI 43-101 compliant resource estimate of 171,000 ounces of gold in the indicated category (2.9M tonnes at 1.83 g/t Au) and 95,000 ounces in the inferred category (2.2M tonnes at 1.36 g/t Au), using a 30 g/t Au cap. This resource is historical and requires verification by the company. - Secondary Project: The recently acquired Lac Crystal project is an early-stage copper-polymetallic prospect in the Gaspé Peninsula, known for its high-grade historical grab samples (up to 43.8% copper). This asset diversifies the company into the critical metals space. - All key properties are subject to Net Smelter Royalties (NSRs).