On December 24, 2025, Copper Quest Exploration Inc. closed the transaction. The company issued 579,764 flow-through shares at an issue price of CAD 0.19 for gross proceeds of CAD 110,155.16 in its second and final tranche. In connection with the private placement, the company has paid cash finder?s fees totaling CAD 2,770.20 and issued a total of 14,580 finder?s warrants entitling the holder thereof to acquire one non-flow-through common share at an exercise price of CAD 0.19 until December 24, 2027.

All securities issued pursuant to the private placement are subject to a statutory four month hold period expiring April 25, 2026.