Questcorp Mining to Exercise Option to Acquire 100% of North Island Copper Project

The remaining interest requires cash and shares, while the vendor will retain a royalty on commercial production following exercise.

Rhea-AI Summary

Questcorp Mining (QQCMF) has agreed to complete an option exercise that would bring its North Island Copper Project ownership to 100%.

The project covers approximately 1,168 hectares near Port Hardy on Vancouver Island, British Columbia. Questcorp currently owns 51% and intends to acquire the remaining 49% through a final $110,000 cash payment and 250,000 common shares issued to the vendor.

Following exercise, the vendor will receive a 3% net smelter returns royalty on commercial production. Questcorp may purchase the first 1% of the royalty for $750,000 and the remaining 2% for an additional $1,000,000. The consideration shares will carry a four-months-and-one-day resale restriction. Completion remains subject to applicable regulatory approvals.

2 points · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

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0 major · 4 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.North Island Copper Project ownership would rise from 51% to 100% upon completion of the option exercise.
• Minor point. Forward-looking: it has not happened yet and may not happen.Royalty purchase rights allow acquisition of the first 1% for $750,000 and remaining 2% for an additional $1,000,000.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.The remaining interest requires a final $110,000 cash payment to the vendor. 1.4% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.Issuance of 250,000 common shares to the vendor would dilute existing holders.
• Moderate point. Forward-looking: it has not happened yet and may not happen.The vendor will receive a 3% net smelter returns royalty on commercial production following exercise.
• Minor pointCompletion remains subject to applicable regulatory approvals.

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Vancouver, British Columbia--(Newsfile Corp. - October 22, 2026) - Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") has reached an agreement (the "Agreement") to complete its option exercise (the "Option") and acquire the remaining forty-nine percent interest in the North Island Copper Project (the "Project"), bringing its ownership to 100% upon completion.

The North Island Copper Project consists of a series of mineral claims, totalling approximately 1,168 hectares, located near Port Hardy on Vancouver Island, British Columbia. The Company currently holds a fifty-one percent interest in the Project and has the Option to acquire the remaining forty-nine percent interest from the current owner (the "Vendor").

Pursuant to the Agreement, the Company intends to exercise the Option and acquire the remaining forty-nine percent interest in the Project by completing a final cash payment of $110,000 and issuing 250,000 common shares (the "Consideration Shares") to the Vendor. Following exercise of the Option, the Company will hold a one-hundred percent interest in the Project and will grant to the Vendor a three percent net smelter returns royalty (the "Royalty") on commercial production from the Project. The Company may acquire the first one percent of the Royalty by completing a cash payment of $750,000, and may acquire the remaining two percent of the Royalty for an additional $1,000,000.

The Consideration Shares will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws. The Company is at arms-length from the Vendor, and its principal. Completion of the exercise the Option remains subject to applicable regulatory approvals.

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 the intended exercise of the Option. 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 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 such forward-looking 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.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts 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/320358

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What will Questcorp Mining pay to acquire full ownership of the North Island Copper Project?

Questcorp intends to pay $110,000 in cash and issue 250,000 common shares to acquire the remaining 49% interest. Completion would increase ownership to 100% and remains subject to applicable regulatory approvals.

What royalty will Questcorp Mining grant on the North Island Copper Project?

Following option exercise, Questcorp will grant the vendor a 3% net smelter returns royalty on commercial production. It may acquire the first 1% for $750,000 and the remaining 2% for an additional $1,000,000.