Toronto, Ontario–(Newsfile Corp. – July 19, 2022) – Conquest Resources Limited (TSXV: CQR) (“Conquest“or the”Company“) announces that it has entered into an agreement pursuant to which it has granted an option to Atha Energy Corp. (“Atha“) to acquire up to 100% undivided interest in the mining leases known as the Golden Rose Property located in the mining district of Sudbury, Ontario. To fully execute the option, Atha must issue a total of 1 500,000 shares of Atha and make cash payments of $1,000,000.00 over a period of 36 months. Atha has also agreed to earn a net smelter return of 1.0% on the Golden Rose project.
Conquest Resources Limited, incorporated in 1945, is a mining exploration company exploring for base metals and gold on mineral properties in Ontario.
Conquest owns a 100% interest in the Belfast – Teck Mag project, located in the Temagami mining camp at Emerald Lake, approximately 65 kilometers northeast of Sudbury, Ontario, home to the former Golden Gold Mine. Rose and rests on the very promising greenstone geology of the Abitibi. over a longitudinal extent of seventeen (17) kilometers.
In October 2020, Conquest completed the acquisition of Canadian Continental Exploration Corp., which owns a large set of mining claims that surround Conquest’s Golden Rose mine, and subsequently doubled its land holdings in the Temagami mining camp through staking of 588 mining cells, encompassing approximately 93 km², centered on Belfast Township, bordering the Temagami magnetic anomaly.
Conquest now controls over 300 km2 of underexplored territory, including the former Golden Rose mine at Emerald Lake, located in the Temagami mining camp.
Conquest also owns a 100% interest in the Alexander gold property located immediately east of the Red Lake and Campbell mines in the heart of the Red Lake gold camp on the significant regional “Mine Trend” structure. The Conquest property is almost entirely surrounded by Evolution Mining land holdings.
In addition, Conquest owns a 100% interest in the Smith Lake gold property of six patented claims and 181 staked mining claims north, west and south of the former Renabie gold mine in Rennie Township. in northern Ontario, operated by Corona and Barrick which had reported gold production of over 1,000,000 ounces between 1947 and 1991 (Northern Miner, March 4, 1991).
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President and CEO
Forward-Looking Statements. This press release may include certain “forward-looking statements”. All statements, other than statements of historical facts, included in this release, including, without limitation, statements regarding the completion of the Acquisition and Consolidation, the release of escrowed funds, future cash, potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest’s expectations are the exploration risks detailed here and from time to time in Conquest’s filings with securities regulators. Neither the TSXV nor its Regulation Services Provider (as defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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