Copper Quest Provides 2026 Exploration Update

Rip phase 2 samples have been sent for storage, but assay results will be deferred until ArcWest option-amendment negotiations conclude.

Rhea-AI Summary

Copper Quest Exploration (IMIMF) reported a 2026 exploration update covering geophysical work, permitting progress and drilling across its 100%-owned and optioned projects in Canada and the USA.

The company completed a 20 km² 3D induced polarization survey over the Stars porphyry Cu-Mo property, including the Tana Zone and its extensions, to image the full magnetic anomaly and refine drill targeting. Permitting advanced at the Alpine gold project (drill and road access), Kitimat copper-gold project (geophysics and drilling at Jeannette and an AI-generated target) and is planned to start at the Thane property, where a partner is being sought. Copper Quest formed a wholly owned subsidiary for its US assets, with ownership transfers of the past-producing Auxer Gold Mine and Nekash copper project in progress and partnership discussions underway. At the Rip Cu-Mo project, the company completed 1,654 m of phase 2 drilling in 5 holes; samples have been sent for storage but assaying will wait until ongoing negotiations to amend the option agreement with ArcWest Exploration conclude.

Positive

• 20 km² IP survey completed at Stars covering full main property and Tana Zone to refine porphyry Cu-Mo drill targets
• Permitting advanced at Alpine and Kitimat including drill, road access, and planned geophysics/drilling programs
• US projects reorganized into a wholly owned subsidiary with ownership transfers of Auxer and Nekash underway
• Rip phase 2 drilling completed with 1,654 meters drilled in 5 holes, adding data for future evaluation

Negative

• Rip drill samples not yet assayed, with analysis deferred until option agreement amendment talks with ArcWest are concluded
• Key projects remain at permitting and partner-seeking stage, with no new resource estimates or assay results disclosed in this update

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Vancouver, British Columbia--(Newsfile Corp. - September 2, 2026) - Copper Quest Exploration Inc. (CSE: CQX) (OTCQB: IMIMF) (FSE: 3MX0) ("Copper Quest" or the "Company") is pleased to provide an update from its 2026 exploration programs including an extensive 20 square kilometer geophysical program at its 100% owned Stars property, permitting and structuring of several properties, and a phase 2 drill program at the Rip property.

Brian Thurston, CEO of Copper Quest, stated, "Copper Quest has had a productive summer of exploration, working several of our properties. We are looking forward to the results of this labour and using the collected data to advance each of our projects. The Company is now focused squarely on the advancement and development of its seven 100% owned properties, advancing past-producing gold mines as well as taking previously drilled exploration targets to the next level of exploration and discovery stage."

STARS Geophysical Program

Copper Quest is pleased to announce that it has completed a 20 km² 3D induced polarization ("IP") geophysical survey on its 100% owned Stars Property ("Stars"). Stars is a porphyry copper-molybdenum ("Cu-Mo") project covering 9,693 hectares ("ha") in the Stikine region of British Columbia, situated approximately 60 km north of Imperial Metals Corporation's ("Imperial Metals") past producing Huckleberry Cu-Mo mine, 50 km north-northeast of Surge Copper Corp's advanced stage Berg copper project, and 30 km north-northwest of Vizsla Copper Corp's Poplar copper-gold project. Imperial Metals is exploring Huckleberry and its surrounding claims for additional Cu-Mo resources.

This very large IP survey has been applied across the full extent of the main Stars Property, including over the Tana Zone discovery area and its along-strike extensions. Induced polarization is a proven method for detecting sulphide mineralization, the type of copper-bearing material found at Stars, at depth and at distance from known drill holes. By imaging the full 20 km² footprint of the magnetic anomaly, the Company aims to determine the true scale of the mineralized system in terms of strike length, width, and depth, and to identify potential new drill targets both in and beyond the current Tana Zone. The Company is awaiting the final report from this work and will update shareholders once that report is received and interpreted.

Alpine Permitting

The Company has been moving forward with permitting on its 100% owned Alpine Project which includes the extension of our current exploration and drilling permit, as well as permitting of the road access from two different routes.

The Company has been engaged with consultants and manufacturers regarding sorting and processing equipment for ore from the Alpine property. Further, the Company has actively been pursuing both partnerships and potential ownership opportunities with various milling operations.

Kitimat Permitting

The Company has been moving forward with permitting on its 100% owned Kitimat Project which includes plans to complete geophysical and drilling programs over the Jeannette Cu-Au target area as well as the AI generated target proposed by Exploration Technologies Inc and described in a previous press release by the Company posted on March 24, 2026. 

Thane Permitting

The Company plans to commence permitting of its 100% owned Thane property and is actively looking for a partner to explore this property.

Auxer & Nekash Properties

The Company has formed a wholly owned subsidiary to hold its 100% owned US properties. The transfer of ownership of both the past-producing Auxer Gold Mine and the Nekash copper project is now in process and expected to complete shortly. The Company is actively looking for partners to explore these properties.

Rip Phase 2 Drilling

The phase 2 drill program of the Rip project was first announced by the Company on May 11^th, 2026. The Company successfully completed 1,654 meters of drilling from 5 holes on the property. Samples from this drill program have been sent to ALS laboratory in Terrace, BC, for storage prior to preparation and assaying. On June 2, 2026, the Company and ArcWest Exploration Inc. began negotiations on amending the current Option Agreement entered into on November 27, 2023, where Copper Quest has the option to acquire up to 80% of the Rip property. Until the negotiations are concluded, the Company does not plan to complete assaying the samples from this most recent drill program.

Qualified Person

Brian G. Thurston, P.Geo., the Company's President and CEO and a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release.

About Copper Quest Exploration Inc.

The Company's land holdings comprise 8 projects that span almost 50,000 hectares in great mining jurisdictions of Canada and the USA. Copper Quest is committed to building shareholder value through acquisitions, discovery-driven exploration, and responsible development of its North American portfolio of assets. The Company's common shares are principally listed on the Canadian Stock Exchange under the symbol "CQX". For more information on Copper Quest, please visit the Company's website at www.copper.quest.

Copper Quest has a 100% interest in the past-producing Alpine Gold Mine located approximately 20 kilometers northeast of the City of Nelson British Columbia, spanning 4,611.49 hectares with a 2018 National Instrument 43-101 Standards of Disclosure for Mineral Projects historical inferred resource of 268,000 tonnes, estimated using a cut-off grade of 5.0 g/t Au and an average grade of 16.52 g/t Au, that represents an inferred resource of 142,000 oz of gold* (*McCuaig & Giroux, March 6, 2018, NI43-101 Technical Report for the Alpine Property, BC, Canada. Further drilling is necessary by the Company to upgrade/verify the estimate. The QP has not done sufficient work to make the resource current and the Company is not treating the estimate as current.). Apart from the Alpine Mine itself the property hosts 4 other less explored significant vein systems including the past-producing King Solomon vein workings, the Black Prince and the Cold Blow veins system, and the Gold Crown vein system. *The Company has not yet completed sufficient work to verify the 2018 historic inferred resource results.

Copper Quest has a 100% interest in the road accessible Stars Porphyry Copper-Molybdenum Property, spanning 9,693 hectares in central British Columbia's Bulkley Porphyry Belt with Tana Zone discovery drill intersection highlights of 0.466% Cu over 195.07m in drill hole DD18SS004 from 23.47m, 0.200% Cu over 396.67m in drill hole DD18SS010 from 29.37m, and 0.205% Cu over 207.27m in drill hole DD18SS015 from 163.98m. This highly prospective, approximately 5X2.5-kilometer annular magnetic anomaly is interpreted to represent an altered monzonite intrusion and surrounding hornfels.

Copper Quest has a 100% interest in the road accessible Kitimat Copper-Gold Property, spanning 6,801.41 hectares within the Skeena Mining Division of northwestern British Columbia located northwest of the deep-water port community of Kitimat, British Columbia. The property benefits from exceptional infrastructure, being within 10 km of tidewater, 1.5 km of rail, and 6 km of high-voltage hydroelectric transmission lines. Exploration on the Kitimat property dates to the late 1960s, with the most significant historical work conducted by Decade Resources Ltd. (2010), which completed 16 diamond drill holes totaling 4,437.5 meters in the Jeannette Cu-Au Zone, and drill intersection highlights of 0.54% Cu and 1.03 g/t Au over 117.07 m in Hole J-7 from 1.52 m, 0.55% Cu and 1.00 g/t Au over 103.65m in Hole J-1 from 9.15 m, 0.45% Cu and 0.80 g/t Au over 107.01m in Hole J-2 from 6.10 m, and 0.33% Cu and 0.41 g/t Au over 112.20m in Hole J-8 from 11.89 m.

Copper Quest has a 100% interest in the past-producing, road accessible Auxer Gold Mine, spanning 1,087 hectares located in Bonner County, Idaho, USA. This orogenic gold opportunity is positioned along one of the region's most significant structural corridors located within the prolific Hope Fault system. Historical exploration has demonstrated exceptional gold grades, with the 1936 Platts report documenting up to 21.0 g/t Au in surface samples and underground workings showing consistent mineralization over 4.3-meter widths averaging 9.42 g/t Au at an 18-meter depth.

Copper Quest has a 100% interest in the Nekash Copper-Gold Project, a porphyry exploration opportunity located in Lemhi County, Idaho, USA, along the prolific Idaho-Montana porphyry copper belt that hosts world-class systems such as Butte and CUMO. The project is fully road-accessible via maintained U.S. highways and forest service roads and consists of 70 unpatented federal lode claims covering 585 hectares.

Copper Quest has a 100% interest in the road accessible Stellar Property, spanning 5,389-hectares in British Columbia's Bulkley Porphyry Belt contiguous to the Stars Property.

Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern British Columbia spanning over 20,658 hectares with 10 priority targets identified demonstrating significant copper and precious metal mineralization potential.

Copper Quest has an earn-in option of up to 80% and joint-venture agreement on the road accessible Rip Porphyry Copper-Molybdenum Project, spanning 4,700-hectares located in the Bulkley Porphyry Belt in central British Columbia.

On behalf of the Board of Copper Quest Exploration Inc.

Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-928-6565

For further information, contact:

Investor Relations
investors@copperquestexploration.com
X
LinkedIn

Forward Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact included herein, including without limitation, future operations and activities of Copper Quest, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312503

FAQ

What did Copper Quest Exploration (IMIMF) announce in its September 2, 2026 exploration update?

Copper Quest reported completion of a 20 km² IP survey at the Stars Cu-Mo project, progress on permitting at Alpine, Kitimat and Thane, corporate structuring of its US Auxer and Nekash properties, and completion of 1,654 m of phase 2 drilling at the Rip Cu-Mo project.

What work did Copper Quest (IMIMF) complete at the Stars copper-molybdenum property in 2026?

The company completed a 20 km² 3D induced polarization survey across the main Stars property, including the Tana Zone and along-strike extensions, to image the full magnetic anomaly, characterize strike length, width and depth of the system, and generate new drill targets. Final interpretations are pending.

How is Copper Quest (IMIMF) advancing permitting at the Alpine and Kitimat projects?

At Alpine, Copper Quest is extending its exploration and drilling permit and permitting road access from two routes while evaluating sorting and processing options and mill partnerships. At Kitimat, it is progressing permits for geophysical and drilling programs over the Jeannette Cu-Au target and an AI-generated target.

What is the status of Copper Quest’s Auxer and Nekash properties in the USA?

Copper Quest has created a wholly owned subsidiary to hold its US assets. Ownership transfers of the past-producing Auxer Gold Mine and the Nekash copper project into this subsidiary are in process and expected to complete shortly, while the company seeks exploration partners.

How much drilling did Copper Quest (IMIMF) complete in the Rip phase 2 program and what happens to the samples?

The phase 2 program at the Rip Cu-Mo project totaled 1,654 meters of drilling in 5 holes. Samples were sent to an ALS laboratory in Terrace, British Columbia for storage, but Copper Quest does not plan to proceed with preparation and assaying until negotiations to amend the option agreement conclude.

Why is Copper Quest delaying assaying of Rip project drill samples?

On June 2, 2026, Copper Quest and ArcWest Exploration began negotiating amendments to the existing Rip option agreement. Until these negotiations are finished, the company does not plan to complete preparation and assaying of drill samples from the most recent phase 2 program.

Who is the qualified person for Copper Quest’s September 2, 2026 technical disclosure?

The qualified person is Brian G. Thurston, P.Geo., Copper Quest’s President and CEO. He has reviewed and approved the technical information in the September 2, 2026 exploration update in accordance with National Instrument 43-101 standards.