Copper Quest targets Alpine gold mine acquisition amid renewed interest in high-grade BC projects

Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) has moved to acquire the past-producing Alpine Gold Mine through an arm’s-length option agreement that positions the company to add a high-grade gold asset with both near-term cash flow optionality and multi-kilometre exploration upside. The agreement, executed with Privco, grants Copper Quest the right to purchase 100% of the Alpine Gold Property, a 4,611-hectare land package in British Columbia’s West Kootenay region that contains historical production, established underground workings and a 2018 NI 43-101 inferred resource outlining 142,000 ounces of gold. The proposed acquisition marks a strategic shift for Copper Quest, introducing a precious-metals component to a portfolio traditionally anchored by critical-minerals exploration projects.

The transaction comes as global gold demand remains strong and the metal continues to trade near all-time highs, reflecting inflation risk, central-bank accumulation and ongoing geopolitical uncertainty. With only about 300 metres of the Alpine vein system historically explored out of an estimated two kilometres, the company is making a calculated move into a district-scale target that could materially reshape its growth trajectory if exploration confirms continuity and grade. Management framed the deal as a chance to secure a high-grade system in a mining-friendly jurisdiction while accelerating the company’s path toward value-generating operations.

How the Alpine acquisition positions Copper Quest to pursue near-term value while evaluating a multi-kilometre high-grade vein system in British Columbia

Copper Quest disclosed that the Alpine Gold Property hosts an NI 43-101 inferred resource of 268,000 tonnes averaging 16.52 grams per tonne of gold, representing roughly 142,000 ounces. This resource was established using a 5.0 g/t cut-off and remains open along strike and at depth. The company noted that only a fraction of the system has been drill-tested or accessed by underground workings, leaving most of the mineralized corridor untested despite historical production dating back more than a century. The existing underground development totals 1,650 metres—fully accessible, clean and dry—providing relatively efficient entry points for confirmatory sampling, step-out drilling and potential early-stage bulk sampling scenarios.

One of the most significant value components is an estimated 24,000 tonnes of run-of-mine mineralized stockpile on surface. While no production decision has been made, Copper Quest emphasized its potential as a near-term cash flow opportunity, pending metallurgical assessment and operational planning. The Alpine system also hosts at least four additional vein structures—Black Prince, Cold Blow, Gold Crown and the past-producing King Solomon—each with historic high-grade results but minimal modern exploration. These regional veins extend across a 4,611-hectare land package accessible by road, enabling year-round operations that could accelerate early-stage work.

Management also highlighted the proximity to the City of Nelson, situated roughly 20 kilometres southwest of the property. This access provides road connectivity, support services and a logistical advantage compared to remote mountain-region projects common in Western Canadian gold exploration. Historical records indicate the Alpine mine produced material containing over 356 kilograms of gold and 222 kilograms of silver during its active periods, along with lead and zinc by-products—an indication of polymetallic potential that could influence future exploration targeting.

Copper Quest President and CEO Brian Thurston signaled strong enthusiasm for the acquisition, stating indirectly that high gold prices make the Alpine asset particularly timely and that the stockpile, historic workings and unexplored vein systems create an immediate pathway to value generation. His remarks framed the acquisition as both opportunistic and strategic in light of current market conditions.

What the transaction terms reveal about Copper Quest’s growth strategy, capital structure considerations and timeline for completing the Alpine acquisition

Under the agreement, Copper Quest will issue 14,177,517 common shares to Privco at a deemed price of CAD $0.175 per share. These shares will be subject to a 24-month escrow period, demonstrating an effort to align the vendor’s incentives with long-term project development rather than immediate liquidity. The company will also reimburse $225,000 in expenditures completed earlier in the year and grant Privco a 2% net smelter return royalty, half of which may be purchased for CAD $1 million.

Closing is contingent upon a 45-day due diligence period, exchange approval and standard closing conditions. Copper Quest noted that closing may occur before the end of the due-diligence window if both parties agree the requirements have been satisfied. A finder’s fee will be paid in common shares upon completion. For shareholders, the transaction introduces dilution but adds a gold asset with established grade and meaningful exploration upside. Market attention now turns to whether Copper Quest will pursue additional financing or partnerships to advance the project and how the company balances its existing critical-minerals portfolio with the addition of a gold-focused asset.

The option agreement also reflects a broader strategic trend among junior explorers, where diversification across metals is increasingly viewed as beneficial in a market shaped by uneven global demand, fluctuating commodity cycles and varying access to capital. By acquiring an asset with historical production, existing infrastructure and demonstrable grade, Copper Quest is pursuing an accretive growth path that may broaden its investor base beyond critical-minerals specialists to include gold-focused fund managers.

Why the addition of veteran mining leaders at Copper Quest may influence investor expectations on execution risks and the company’s ability to scale a high-grade gold project

Copper Quest announced that Allan Matovich, the principal owner of the Alpine Property, will join its board of directors upon closing. Matovich brings more than 60 years of mining and exploration experience, including roles supplying lead, zinc and siliceous flux materials to Cominco, developing barite operations in both British Columbia and Washington State, and leading multiple successful mineral ventures. His long-term familiarity with the Alpine property—having purchased it in 2000 and spent decades advancing it—provides continuity and insight that could streamline project evaluation and planning.

In addition to Matovich, the company will appoint two seasoned technical advisors: Ted Muraro and John Mirko. Muraro’s career spans more than six decades, including 35 years at Cominco and involvement in major discoveries such as the Westmin Mine, Polaris Mine and Snip Mine. His accolades, including the 2021 Spud Huestis Award, underscore his reputation in exploration leadership. Mirko, with more than 40 years of experience, brings expertise in mine development, corporate leadership and international project execution, including recognition from the Association for Mineral Exploration of British Columbia and the Mining Association of British Columbia.

For investors, this combination of veteran oversight reinforces confidence in Copper Quest’s ability to manage technical risk, advance underground evaluations and design a coherent exploration strategy that builds on the existing NI 43-101 resource. Their arrival signals that this is not a speculative land acquisition but a coordinated plan to develop a high-grade gold asset using decades of operational and geological knowledge.

How global gold market dynamics, supply constraints and mining jurisdiction advantages enhance the strategic appeal of the Alpine Gold Property

Copper Quest positioned the acquisition within the broader context of global gold supply and demand. The company referenced industry trends showing strong demand driven by geopolitical uncertainty, persistent inflation and sustained central-bank gold purchases. Meanwhile, global supply growth continues to tighten, influenced by declining reserves at mature mines, the scarcity of new large-scale discoveries and rising capital and operational costs associated with new project development.

Within this macro setting, securing a high-grade asset in a stable, mining-friendly jurisdiction like British Columbia carries strategic weight. The Alpine Property aligns with investor preferences for grade, access and regulatory clarity—three elements that have become central to project de-risking in the current gold market cycle. Analysts watching the sector have noted that high-grade underground projects in Canada continue to attract premium valuations among juniors, especially when existing infrastructure, historical production and open exploration potential are present.

For Copper Quest, the acquisition acts as a hedge against commodity-cycle variability while opening a new channel for value creation. The company’s ability to advance Alpine’s multi-kilometre vein system, evaluate the stockpile and explore regional veins will determine whether the asset evolves into a meaningful contributor to long-term project value. Investor sentiment will likely track milestones such as due-diligence completion, initiation of first-phase drilling, expansion of the resource envelope and metallurgical assessments of the stockpiled material.