2009
PRESS RELEASE
• GOLDCORP DRILLS FOUR HOLES ON CONQUEST’S ALEXANDER PROPERTY AT RED LAKE
• NEW GOLD INTERSECTION OF 14.25 G/T OVER 0.61 METRES AT A DEPTH OF 300 METRES
Toronto, Ontario – May 25, 2009
Conquest Resources Limited (TSX-V: “CQR”) is pleased to announce
that Goldcorp Inc. (“Goldcorp”) has recently completed four diamond drill holes on to Conquest’s
Alexander Property at Red Lake, Ontario.
The holes were drilled by Goldcorp from its adjacent Red Lake Mine Property as part of a wider program
to delineate mineralization within the upper part of the Red Lake Mine.
The four inclined holes, which were collared from surface within approximately 1,000 metres of the Red
Lake Mine No. 1 Shaft headframe, were drilled in a north-easterly direction into the western part of
Conquest’s property to downhole depths between 690 to 836 metres.
Hole DS641 of Goldcorp’s drilling programme located a significant gold intersection of 4.97 grams per
tonne gold over 1.82 metres, including 14.25 g/t over 0.61m, at a down hole depth of 473 metres and an
estimated vertical depth of approximately 300 metres.
The preliminary drilling results were provided to
Conquest by Goldcorp. The gold assay results were determined by SGS and Accurassay Laboratories in
Red Lake and Thunder Bay, Ontario.
Conquest’s Alexander Gold Project is located in Balmer Township in the heart of the Red Lake Gold
Camp. It lies immediately adjacent to Goldcorp’s high grade Red Lake Mine, within the east-southeast
trending “Mine Trend” deformation zone, and is almost completely surrounded by Goldcorp’s claim
holdings.
Commenting on the drilling results, Conquest’s President & CEO, Mr. Terence McKillen, stated: “The
intersection of good grade gold at this depth on Conquest’s property is extremely encouraging. The gold
mineralization previously encountered by Conquest in the west-central part of the Alexander Property
was in trenching and shallow drilling. Goldcorp’s four drill holes extend to approximate vertical depths of
450 – 570 metres representing the deepest drilled holes on the Alexander Property to date. The
intersection in hole DS641 confirms gold potential exists at depth on Conquest’s property.”
Conquest’s Alexander Property at Red Lake is situated adjacent to Goldcorp’s Red Lake and Campbell
gold mines, which contain historic production and current resources in excess of 25 million ounces of
gold, approximately 1,000 metres east of the No. 1 Shaft headframe and within 400 metres of the Far
East Zone at the Red Lake Mine. Many of the regional structures that have associated gold
mineralization in the area of Goldcorp’s two producing mines cross on to the Alexander Property.
Conquest has developed a phased exploration strategy for its Alexander Project to investigate depth
extensions from known surface and near surface gold mineralization and plans to initiate the first phase
of drilling later this summer.
ABOUT CONQUEST RESOURCES
Conquest is exploring several gold projects in Ontario. These include the Alexander gold project at Red
Lake; the Aurora and Sunday Lake gold projects at Detour Lake; the King Bay gold project at Sturgeon
Lake (60% interest); and the Smith Lake gold project at Missanabie.
Conquest has 72,663,830 shares issued and outstanding.
This release has been prepared under the supervision of Terence N. McKillen, P. Geo. who is a qualified
2011
CONQUEST COMMENCES DRILLING FROM GOLDCORP RED LAKE MINE PROPERTY
Toronto, Ontario – April 14, 2011
Conquest Resources Limited (TSX-V: “CQR”) is pleased to announce that
the Company has commenced drilling from Goldcorp’s Red Lake Gold Mines Ltd. (“Goldcorp”) mine property
located next to Conquest’s 100% owned Alexander Property in Red Lake, Ontario.
Drilling with a second drill rig is underway on the initial 1,600 metre deep hole, CR-11-047, designed to test
Balmer Assemblage basalts which occur under the western corner of the Alexander claim block. The hole will
be maintained for subsequent wedging following the drilling of the parent hole expected during June.
Conquest has collared hole CR-11-047 from surface approximately 175 metres from the south western corner
of the Alexander Property boundary where an estimated 800 metres of drilling in the upper portion of the
hole will take place on Goldcorp’s property and the remaining lower portion will be on Conquest’s Alexander
Property. Conquest and Goldcorp will mutually benefit from the information obtained through drilling.
No formal agreement or interest in the Alexander Property has been assigned to Goldcorp.
2014
• CONQUEST REPORTS MARCH 31, 2014 FIRST QUARTER RESULTS
Toronto, Ontario – May 22, 2014
Conquest Resources Limited (TSV-V: “CQR”) (“Conquest” or “the Company”) has filed
its unaudited Financial Statements and Management’s Discussion and Analysis for the three months ended March 31,
2014. These filings are available for download on the Company’s website at www.conquestresources.com and on SEDAR.
For the three month period ended March 31, 2014, the Company recorded net income of $61,000 ($0.001 per share);
compared to a loss of $286,000 ($0.003 per share) for the three month period ended March 31, 2013.
Administrative
expenses for the three month period ended March 31, 2014 amounted to $46,000, compared to $66,000 in the three
months ended March 31, 2013.
The income in the three month period ended March 31, 2014 included a gain on disposal of shares of $28,000, and a gain to
the market value of marketable securities of $79,000. In the three month ended March 31, 2013, the Company recorded a
loss to market value of marketable securities of $220,000.
Total assets increased to $7,828,000 at March 31, 2014 from $7,770,000 at December 31, 2013, due to the increase in value
of marketable securities. At March 31, 2014, the Company had mineral properties with a total book value of $7,673,000
and a working capital surplus of $104,000, compared to a surplus of $46,000 at December 31, 2013.
GRANT OF STOCK OPTIONS
The Board of Directors has approved the grant of 5,800,000 share purchase options to directors, officers and service
providers at an exercise price of $0.05 per share, all with an expiry date of June 30, 2019. The options will vest over a
period of two years.
During the quarter ended March 31, 2014, 3,200,000 stock options expired unexercised.
ABOUT THE COMPANY
Conquest holds several geologically significant gold projects in Ontario, Canada. The Company also maintains a claim to
two gold properties in Zimbabwe.
The Company’s flagship Alexander Gold Property is located immediately adjacent Goldcorp’s producing Red Lake mine in
northern Ontario. The property is 100% owned by Conquest measuring 448 hectares in size and situated just beyond the
security gate at Goldcorp’s Red Lake gold mine. The Alexander Property is of ample size to accommodate a high grade gold
deposit at depth as repetition of the adjacent deposits at Goldcorp’s Red Lake gold mine, which is less than 800 metres
from the property boundary.
The Smith Lake Gold Project measures 46 square kilometres in size and consists of six (6) patented mining claims and
twenty-four (24) unpatented mining claims located within the Missanabie-Goudreau greenstone belt in Leeson and Rennie
Townships in northern Ontario. The property is 100% Conquest owned and is contiguous with the former International
Corona Resources Renabie Gold Mine, which produced more than 1,000,000 ounces of gold from 1941 through 1991.
The Sunday Lake Gold Project consists of 13 square kilometers of prospective minerals leases held under a 50/50 joint
venture with Detour Gold Corporation. The property is located along the Sunday Lake Deformation Zone situated
approximately seven kilometres east of Detour Gold’s 15.6 million ounce open pit gold mine in northern Ontario.
There are currently 95,477,728 shares of Conquest issued and outstanding
2015
CONQUEST SELLS 50% JV INTEREST IN SUNDAY LAKE PROPERTY TO DETOUR GOLD
Toronto, Ontario – January 19, 2015
Conquest Resources Limited (TSV-V: “CQR”) (“Conquest” or “the Company”)
announces that it has sold its remaining 50% joint venture interest in the Sunday Lake gold project to Detour Gold
Corporation (“Detour Gold”), for a one-time payment of 33,000 common shares of Detour Gold (“DGC”-TSX).
Based on the closing share price of Detour Gold on January 16, 2015 the consideration received by Conquest is valued at
approximately $420,000.
The Sunday Lake Property is located along the Sunday Lake Deformation Zone and situated approximately seven kilometres
east of Detour Gold’s 15.5 million ounce open pit gold mine in northeastern Ontario.
In 2010, Conquest entered into an agreement whereby Detour Gold was granted an option from Conquest to acquire a 50%
joint venture interest in the Sunday Lake Property by incurring $1.0 million in exploration expenditures. Under the Option
earn-in, Detour Gold vested its 50% interest and became the Operator of the joint venture by completing exploration soil
geochemistry and geophysical programs in addition to two exploration diamond drilling programs.
In 2010 Conquest sold its adjacent Aurora Property to Detour Gold for a cash consideration of $2.0 million and 100,000
shares of Detour Gold.
Conquest is actively seeking a new project to replace its Sunday Lake Property in mining-friendly jurisdictions such as
Canada and the United States of America. Conquest believes that prolonged depressed markets for junior exploration
companies have created favorable conditions for the Company.
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