Conquest Enters into Definitive Agreement to Sell Belfast-Teck Mag Property to Inventus Mining
Conquest divests its flagship Ontario asset to pivot toward Finnish drilling, focusing on exploration activities in Finland.
Conquest Resources Limited has entered a definitive agreement to sell its 100% interest in the Belfast-Teck Mag property package, which includes the historic Golden Rose Mine, to Inventus Mining Corp. The transaction consideration consists of 8,000,000 common shares of Inventus, vesting over a two-year schedule, and a 2.0% net smelter return (NSR) royalty on the claims. Inventus retains the right to purchase an additional 0.5% of the royalty for C$1,000,000.
This definitive agreement follows a non-binding letter of intent signed in December 2025 and a formal share purchase agreement executed in February 2026. The sale allows Conquest to unlock value while retaining long-term exposure through equity and royalty interests.
Concurrently, management is shifting strategic focus to the Valimaki Project in Finland. Geological mapping, geophysical, and geochemical surveys are complete, with drill targets prioritized for Q4 2026.
Conquest Resources Limited has divested its Belfast-Teck Mag property, marking a strategic pivot away from Ontario base metals toward a concentrated gold exploration campaign in Finland. The transaction serves as a direct follow-up to the December 2025 letter of intent and the February 2026 agreement, meaning the market had already priced in the divestiture.
The consideration structure consists of 8 million Inventus shares and a 2% net smelter return (NSR), providing deferred value and royalty income but delivering no immediate cash infusion to the balance sheet. The stock price remained flat at $0.05 on the announcement date, confirming that the market viewed this as an expected execution step rather than a surprise catalyst. The move reduces exploration overhead in Ontario and concentrates capital on the Valimaki project, which has defined drill targets for late 2026.
Conquest Resources Limited (CQR) is a Canadian junior exploration company with assets in Ontario and Finland. The company’s former flagship, the Belfast-Teck Mag property, was a 350 km² site in the Southern Abitibi Greenstone Belt targeting magmatic Ni-Cu-PGE and VMS deposits, where Phase 1 drilling tested 17 geophysical targets.
The company’s new strategic focus is the Valimaki Gold Project in southwestern Finland, a 23,197-hectare exploration reservation. Valimaki features a 15 km trend with historic gold boulders up to 60 g/t Au and prior drilling intercepts including: - 4.3 m @ 7.2 g/t Au
Conquest Resources is advancing Valimaki through completed UAV magnetic surveys, geological mapping, and till sampling, preparing for a Q4 2026 drill program.