Questcorp Mining Issues Shares to Riverside Resources Inc. and Commences Planning at La Union Gold Project

Rhea-AI Summary

Questcorp Mining (CSE: QQQ, OTCQB: QQCMF) has issued 6,285,722 common shares (9.9% of outstanding shares) and paid $25,000 CAD to Riverside Resources as part of an option agreement for the La Union Project in Sonora, Mexico. The 2,520.2-hectare carbonate replacement deposit project has shown promising sample grades of 59.4 g/t gold, 833 g/t silver, 11% zinc, 5.5% lead, and 2.2% copper. The project, hosted in Neoproterozoic sedimentary rocks, demonstrates potential for large gold discoveries and possible porphyry copper mineralization. Riverside, as the project operator, is preparing to conduct geophysical surveys to enhance drill targets.

Positive

• High-grade sample results showing significant precious and base metal content
• Strategic acquisition of a large 2,520.2-hectare property with multiple mineralization types
• Project shows potential for both gold discoveries and porphyry copper deposits

Negative

• 9.9% share dilution from issuance of new common shares
• Grab samples are selective and may not represent overall mineralization
• Early-stage project requiring significant exploration work and investment

Vancouver, British Columbia--(Newsfile Corp. - May 22, 2025) - Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to announce that, further to its news release dated May 6, 2025, the Company has issued 6,285,722 common shares in the capital of the Company (the "Common Shares"), representing 9.9% of the issued and outstanding Common Shares as of May 20, 2025, to Riverside Resources Inc. ("Riverside") and completed the required payment of $25,000 CAD to Riverside, all pursuant to the terms and conditions of the option agreement among the Company, Riverside and its wholly-owned subsidiary, RRM Exploracion, S.A.P.I. De C.V, dated May 5, 2025, in respect of the 2,520.2 hectare La Union carbonate replacement project located in Sonora, Mexico (the "La Union Project").

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/253018

FAQ

What are the key terms of Questcorp Mining's (QQCMF) La Union Project acquisition?

Questcorp issued 6,285,722 common shares (9.9% of outstanding shares) and paid $25,000 CAD to Riverside Resources for the La Union Project option agreement.

What are the notable mineral grades reported at QQCMF's La Union Project?

Sample grades showed 59.4 g/t gold, 833 g/t silver, 11% zinc, 5.5% lead, and 2.2% copper, along with significant hematite and manganese oxides.

Where is Questcorp Mining's (QQCMF) La Union Project located and what is its size?

The La Union Project is a 2,520.2-hectare property located in Sonora, Mexico.

What are the next steps for QQCMF's La Union Project development?

Riverside, as the project operator, is preparing to conduct orientation surveys and detailed geophysical surveys to confirm and enhance drill targets.