Questcorp Mining Announces Commencement of Phase 1 Work at the La Union Gold Project

Rhea-AI Summary

Questcorp Mining (OTCQB: QQCMF) has initiated Phase 1 work program at its La Union carbonate replacement deposit (CRD) project in Sonora, Mexico. The company is earning 100% interest in the 2,520-hectare property from Riverside Resources through cash payments, share issuance, and exploration expenditures.

The initial phase focuses on finalizing drill targets through IP surveying, Black Light analysis, and geological mapping. The project has shown promising mineralization with highlight grades of 59.4 g/t gold, 833 g/t silver, 11% zinc, 5.5% lead, and 2.2% copper. A 1,500-metre drill program is scheduled for mid to late Q3 2025.

Positive

• High-grade mineralization discovered with 59.4 g/t gold and 833 g/t silver samples
• Fully funded first phase work program
• Large land package of 2,520 hectares with potential for significant gold discoveries
• Technical expertise provided by Riverside Resources team

Negative

• Company needs to complete series of cash payments and share issuance to earn 100% interest
• Grab samples are selective and may not represent overall mineralization
• Drilling program yet to commence, current phase only preparatory work

Vancouver, British Columbia--(Newsfile Corp. - June 24, 2025) - Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to announce the commencement of the first phase work program at its La Union carbonate replacement deposit (CRD) project, located in Sonora, Mexico. Questcorp is earning a 100% interest from Riverside Resources Inc. in the 2,520 ha (25 km sq) property by making a series of cash payments and share issuance and completing a series of exploration expenditures.

The initial stages of phase one will concentrate on finalizing the location of drill targets and drill pads for the upcoming drill program. Field activities are underway and include:

• Establishment of 5 to 6 one kilometre picket lines for IP surveying which commenced on Monday. The IP lines are being run over the heart of some of the past mining areas which continue to be known expansive target areas to help evaluate further potential, possible most favorable zones and assist to model the larger context for the upcoming drill holes. This work further de-risks the up-coming first pass drill holes.
• Sampling of limestone and dolomite host rocks across the mineralization from country rock through to the heart of mineralization for Black Light analysis and alteration vector modeling. The objective is to use the changes or variance in fluorescence to map alteration patterns to vector into the heart of the manto and chimney plumbing systems.
• Geological mapping of drill collar sites and section lines particularly along the surface of the IP lines to help develop the most accurate interpretations of the IP data for drill hole planning.
• Rock and soil sampling of peripheral areas to identify additional targets including study of the stratigraphy for understanding and context with the many mineralization showings on the large district holding.

"We are extremely pleased to initiate the fully funded first phase work program at La Union," commented Questcorp President & CEO Saf Dhillon. "We are first concentrating on de-risking the upcoming 1,500 metre drill program scheduled for mid to late Q3 through alteration mapping and IP geophysics," he continued. "Under the technical expertise of John-Mark Staude and the Riverside team we are confident we are maximizing every exploration dollar being invested at La Union," he concluded.

Riverside Resources Inc. President & CEO John-Mark Staude stated "The work program is going well, I have been in the field this past week with the exploration team and pleased to see the safe, high quality focus of good work and diving into careful review of the planned drill sites and now the IP program is underway. It is great to work with Saf, Tim and the entire Questcorp organization."

The La Union Project

The La Union Project is a carbonate replacement deposit ("CRD") project hosted by Neoproterozoic sedimentary rocks (limestones, dolomites, and siliciclastic sediments) overlying crystalline Paleoproterozoic rocks of the Caborca Terrane. The structural setting features high-angle normal faults and low-to-medium-angle thrust faults that sometimes served as mineralization conduits. Mineralization occurs as polymetallic veins, replacement zones (mantos, chimneys), and shear zones with high-grade metal content, as shown in highlight grades of 59.4 grams per metric tonne (g/t) gold, 833 g/t silver, 11% zinc, 5.5% lead, 2.2% copper, along with significant hematite and manganese oxides, consistent with a CRD model (see the technical report entitled "NI 43-101 Technical Report on the Union Project, State of Sonora, Mexico" dated effective May 6, 2025 available under Questcorp's SEDAR+ profile). These targets also demonstrate intriguing potential for large gold discoveries potentially above an even larger porphyry Cu district potential as the Company's target concept at this time.

Questcorp cautions investors grab samples are selective by nature and not necessarily indicative of similar mineralization on the property.

Riverside, the operator of the La Union Project, is currently lining up the various geophysical contractors to immediately undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets.

The technical and scientific information in this news release has been reviewed and approved by R. Tim Henneberry, P. Geo (BC), a director of the Company and a "qualified person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Questcorp Mining Inc.

Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.

Contact Information

Questcorp Mining Corp.
Saf Dhillon, President & CEO
Email: saf@questcorpmining.ca
Telephone: (604) 484-3031

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Riverside's arrangements with geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of Riverside to secure geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets as contemplated or at all, general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256556

FAQ

What are the recent gold and silver grades reported at Questcorp Mining's (QQCMF) La Union project?

The La Union project reported highlight grades of 59.4 g/t gold and 833 g/t silver, along with 11% zinc, 5.5% lead, and 2.2% copper from grab samples.

When will Questcorp Mining (QQCMF) begin drilling at the La Union project?

Questcorp plans to commence a 1,500-metre drill program in mid to late Q3 2025, following completion of current IP surveying and target identification work.

What is the size of Questcorp Mining's La Union project in Mexico?

The La Union project covers 2,520 hectares (25 square kilometers) in Sonora, Mexico.

How is Questcorp Mining (QQCMF) acquiring the La Union project?

Questcorp is earning 100% interest from Riverside Resources through a series of cash payments, share issuance, and completion of exploration expenditures.

What type of deposit is Questcorp Mining's La Union project?

La Union is a carbonate replacement deposit (CRD) hosted by Neoproterozoic sedimentary rocks, with potential for large gold discoveries and possible porphyry Cu district potential.