Copper Quest Exploration Inc. has entered into an arms-length Option to Purchase Agreement dated February 9th, 2026 to acquire 100% of the possessory rights and interest in and to the AUXER Gold Property, located in Bonner County, Idaho, United States, increasing its US exposure to prospective gold and copper assets across North America. Highlights of the AUXER Gold Property include a road-accessible 1,087-hectare property including 130 unpatented lode claims with proximity to the BNSF Railway mainline reducing transportation costs and development timelines compared to remote exploration projects. The property features a 7-kilometer strike length of mineralization showing strong geological similarities to world-class orogenic gold settings with multiple high-grade ore shoots indicating the potential for a substantial underground mining operation.
There are 1,000 meters of underground workings accessing historically sampled and mineable zones, providing valuable geological data and potential cost savings through existing access points. The property is permitted for drilling through the IPNF Decision Memo, providing immediate authorization for a surface diamond drill program, and permitted to re-establish underground access of historical workings, providing an immediate opportunity to re-examine and sample the extensive historical workings, including the Boston Vein and Chicago Vein systems, potentially accommodating future underground drill programs. Proven near-surface, high-grade mineralization with historical underground development and modern exploration results by Lightning Creek Gold Corp. with grades up to 26.8 g/t Au.
Permitted infrastructure authorizations include temporary road construction, overland travel access, and water withdrawal permits. The property benefits from Idaho's established mining jurisdiction, featuring comprehensive regulatory frameworks, experienced mining contractors, and proximity to essential infrastructure. The Auxer Gold Project is located in Bonner County, Idaho, United States, approximately 4 miles northeast of the town of Hope in a direct line.
The property sits at an elevation of 1,603 meters (5,259 feet) in the Cabinet Mountain Range, positioned in a glacial cirque on the north side of the ridge near the head of Wellington Creek. The project encompasses 130 unpatented lode claims covering a total area of 2,687 acres, primarily located in Township 57 North, Range 2 East, Boise Meridian. The Auxer Gold Project represents a compelling orogenic gold opportunity, positioned along one of the region's most significant structural corridors.
Located within the prolific Hope Fault system, featuring 5 kilometers of vertical throw and over 25 kilometers of horizontal offset, the project sits strategically near a critical 25-degree bend where secondary structures like the Auxer Fault create ideal gold trap geometries. This structural setting, combined with the presence of iron-rich quartz diorite sills overlying kilometers of sulfide-bearing Lower Prichard Formation pelitic sediments, creates all the geological hallmarks of a world-class orogenic gold system as outlined in modern deposit models. Historical exploration has demonstrated exceptional gold grades, with the 1936 Platts report documenting up to 21.0 g/t Au in surface samples and underground workings showing consistent mineralization over 4.3-meter widths averaging 9.42 g/t Au at an 18-meter depth.
Drilling by Lightning Creek Gold Corp. in 2021 has validated this mineralization potential with intercept LCD21-0019 returning 26.8 g/t Au over 0.73 meters. The Auxer Gold Project has seen no historical drilling, with prior exploration limited to underground workings and tunnels driven during the early 20th century.
Operations ceased in the 1930s following executive orders that effectively curtailed small-scale gold mining, and the project was never reopened. As a result, Auxer represents a rare opportunity to apply modern exploration techniques to a property of strong geological merit that has remained largely untested. The project exhibits many of the defining characteristics of major orogenic gold systems recognized globally and is situated in the politically stable and mining-friendly jurisdiction of Idaho, with proximity to major permanent infrastructure including nearby highway access and an active BNSF Railway mainline.
The project is typically accessed from Highway 200 via 16 miles of maintained USFS gravel roads. Due to storm-related bridge damage in early 2026, vehicle access is currently planned via a 5-mile ATV trail from the town of Hope. The U.S. Forest Service has indicated a willingness to accommodate planned work programs via this route during the 2026 field season.
The property's proximity to Highway 200 and the BNSF Railway mainline continues to support favorable long-term development logistics.
