Conquest Resources Amends Terms of Private Placement Financings

Executive Summary

• Conquest Resources Limited amended its previously announced non‑brokered private placement, adding a hard‑dollar (HD) component of up to 6 million common shares at $0.05 per share for gross proceeds of up to $300,000.
• The financing now consists of two tranches: a charity flow‑through (FT) tranche of up to 6 million FT shares at $0.075 each ($450,000 gross) and the new HD tranche of up to 6 million common shares at $0.05 each ($300,000 gross), for total potential proceeds of $750,000.
• Proceeds will be used for eligible Canadian exploration expenses on the Belfast‑TeckMag Project (FT tranche) and for working capital/general corporate purposes (HD tranche).

Key Details

• Amended Financing Structure
• FT Financing: Up to 6 M charity flow‑through common shares at $0.075 per share → gross proceeds up to $450,000.
• HD Financing: Up to 6 M hard‑dollar common shares at $0.05 per share → gross proceeds up to $300,000.
• Total Potential Gross Proceeds: $750,000.
• Use of Proceeds
• FT tranche: Eligible Canadian exploration expenses qualifying as “flow‑through critical mineral mining expenditures” for the Belfast‑TeckMag Project; also eligible Ontario exploration expenditures for Ontario individual subscribers.
• HD tranche: Working capital and general corporate purposes.
• Regulatory Conditions
• Subject to receipt of all required regulatory approvals, including TSX Venture Exchange acceptance.
• Hold period of four months and one day from the FT financing closing per securities law requirements.
• U.S. Securities Law Disclaimer: Shares are not registered under the U.S. Securities Act and may not be offered or sold in the United States absent exemption or registration.
• Qualified Person Review: Technical content reviewed and approved by Joerg Kleinboeck, P.Geo., Qualified Person (NI 43‑101).

Notable Quotes

• Tom Obradovich, President & CEO: “The amendment provides us with flexible financing to advance our exploration program while preserving shareholder value.”