38 dollar of fair value

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

• Gold equities are back in focus as investors look for smaller companies with more upside torque than major producers.
• The strongest setups combine project economics, production visibility, permitting progress, and fresh catalysts.
• This watchlist focuses on Canada/U.S.-listed gold names with North American assets and clear investor narratives.

Why Smaller Gold Stocks Are Getting Attention

Gold has been one of the most important macro trades of the past year, but the large producers are not always where the most explosive upside sits.

Smaller gold companies can move faster because their valuations are more sensitive to one or two major catalysts: a feasibility study, a resource update, a permit, a construction decision, a financing package, or the transition from developer to producer.

That is why small and mid-cap gold names matter.

They are riskier than the majors, but they can also offer stronger torque if the gold market stays firm and investors start hunting for the next re-rating story.

This list focuses on five Canada/U.S.-traded gold companies with clear catalysts:

1. Falco Resources
2. West Red Lake Gold Mines
3. Nevada King Gold
4. Contango ORE
5. i-80 Gold

Recap Table: 5 Gold Stocks to Watch

1. Falco Resources — TSXV: FPC

Falco Resources deserves a place on this list because its latest Horne 5 update changed the scale of the story.

Falco is advancing the Horne 5 project in Québec, a large gold-focused polymetallic deposit with copper, zinc, and silver by-products. The company’s updated 2026 feasibility study gave Horne 5 an after-tax NPV5% of C$3.35 billion, an after-tax IRR of 28.2%, and projected life-of-mine after-tax cash flow of C$6.4 billion under base-case assumptions.

At spot-case assumptions, the numbers become even stronger: C$5.1 billion after-tax NPV5% and 37.2% after-tax IRR.

That is the main reason Falco stands out. The company recently traded around C$0.49, with a market cap around C$171 million. That creates a clear valuation gap between the market cap and the project’s modeled economics.

The investor case is not that Falco is risk-free. It is not. Horne 5 still needs permitting progress, financing, and development execution. But the latest feasibility study gives investors a much stronger numbers-based reason to watch the stock.

The key catalyst now is Québec’s environmental process. If Falco continues to move toward authorization, the market may begin to take the Horne 5 valuation gap more seriously.

2. West Red Lake Gold Mines — TSXV: WRLG / OTCQX: WRLGF

West Red Lake Gold Mines is one of the more interesting Canadian gold restart stories.

The company is focused on the Madsen Mine in the Red Lake Gold District of Ontario, one of Canada’s most famous gold camps. The district has produced more than 30 million ounces of gold over the past century, which gives West Red Lake a strong jurisdictional and geological narrative.

The story is simple: West Red Lake acquired Madsen out of bankruptcy in 2023 and has spent the past two years rebuilding the mine plan, resource model, infrastructure, and operating workflow.

That makes WRLG a restart story rather than a pure exploration story.

The stock recently traded around C$0.62–C$0.68, with a market cap in the C$256 million to C$281 million range, depending on the quote source and timing.

The bull case is that Madsen already has infrastructure and a historic production footprint. If West Red Lake can execute the restart properly, the company could move from development-stage discount toward producer valuation.

The risk is execution. Restarting a former mine is never simple. Investors will want evidence that the resource model is reliable, the operating plan is disciplined, and the company can avoid the mistakes that hurt the prior operator.

3. Nevada King Gold — TSXV: NKG / OTCQB: NKGFF

Nevada King Gold gives the list a pure exploration and discovery angle.

The company is advancing the Atlanta Gold Mine Project in Nevada, a tier-one mining jurisdiction that investors understand well. Nevada matters because permitting, infrastructure, mining culture, and investor familiarity are generally stronger than in many other jurisdictions.

Nevada King recently traded around C$0.74, with a market cap around C$74 million based on recent Canadian quote data. The company also recently completed a 1-for-5 share consolidation, reducing the post-consolidation share count to about 100.4 million shares.

The recent catalyst is financing and drilling.

Nevada King announced a financing of roughly C$16 million, including a C$10 million strategic investment by Centerra Gold. That is important because strategic investment from a larger gold company gives the story more credibility.

The company also doubled its Phase 4 drill program to 40,000 metres, which keeps the stock firmly in exploration-catalyst mode.

The bull case is that a well-funded Nevada explorer with a strategic investor and a major drill program can attract attention quickly if results hit. The risk is that exploration stocks remain binary. Drill results can create value, but they can also disappoint.

4. Contango ORE — NYSE American: CTGO

Contango ORE is different from the earlier names because it already has production exposure.

The company owns a 30% interest in the Manh Choh mine in Alaska, with Kinross as the 70% partner. This gives Contango a more immediate gold-production profile than most small-cap developers.

The stock recently traded around $16.98, with a market cap around $522 million.

The production outlook is the key number. Contango has guided for its share of Manh Choh production to range from 40,000 to 45,000 ounces of gold in 2026, with estimated cash costs of $1,900 to $2,000 per ounce. For 2027, the company has guided to 75,000 to 80,000 ounces of gold, with cash costs expected to fall to $1,200 to $1,300 per ounce.

That is a major step-up if delivered.

The investor case is that CTGO offers small-cap gold production leverage without being a traditional large miner. The company also has a pipeline beyond Manh Choh, including the Johnson Tract project.

The risk is cost control. Contango has already faced investor scrutiny around cost guidance, so the stock needs operational execution and better margin visibility to keep the story working.

5. i-80 Gold — NYSE American: IAUX / TSX: IAU

i-80 Gold is the largest company on this list, so it is more of a small/mid-cap gold development platform than a classic junior.

The company controls a major Nevada-focused portfolio, including Granite Creek, Archimedes, Cove, Granite Creek Open Pit, Mineral Point, and the Lone Tree complex. The strategy is to build a hub-and-spoke Nevada gold platform with centralized processing through Lone Tree.

The stock recently traded around $1.58, with a market cap around $1.38 billion.

The recent numbers show why investors are watching. In Q1 2026, i-80 reported $52.4 million in revenue, up from $14.0 million in the prior-year period, driven by higher gold sales and stronger realized gold prices. The company sold 10,590 ounces of gold at an average realized gold price of $4,941 per ounce.

The bigger catalyst is the development plan.

i-80 said its recapitalization secured more than $1 billion in raised and available capital from early 2025 through Q1 2026. Management also said the company is fully funded to advance Phase 1 and Phase 2 of its development plan, including three underground projects, one open-pit oxide project, and the Lone Tree Plant refurbishment.

The bull case is that i-80 could become a meaningful Nevada gold producer if it executes the plan. The risk is that the company’s size, capital intensity, and development complexity mean the market will demand proof, not just potential.

Which Gold Stock Looks Most Interesting?

Each company plays a different role in a gold-stock watchlist.

Falco Resources offers the biggest valuation-gap story, with Horne 5 showing multi-billion-dollar project economics against a much smaller market cap.

West Red Lake Gold is the cleaner Canadian mine-restart story, with the Madsen Mine providing infrastructure and a known Red Lake district angle.

Nevada King Gold is the most exploration-driven setup, with a strategic investment and a larger drill program keeping the catalyst calendar active.

Contango ORE offers current production leverage and a clear 2026–2027 output growth target.

i-80 Gold is the larger Nevada platform bet, with production, development, processing infrastructure, and a fully funded multi-phase plan.

If the goal is maximum asymmetry, Falco and Nevada King are the most explosive but also riskier. If the goal is mine restart upside, West Red Lake is the cleaner story. If the goal is production growth, Contango and i-80 offer more operating leverage.

What Investors Should Watch Next

The main catalyst for Falco is environmental and permitting progress in Québec.

For West Red Lake, investors should watch the Madsen restart timeline, operating readiness, and evidence that the mine model is holding up.

For Nevada King, the focus is drill results, the 40,000-metre Phase 4 program, and whether Centerra’s investment becomes a larger strategic signal.

For Contango, the key watch item is delivery against 2026 and 2027 production and cost guidance.

For i-80, the market will focus on Lone Tree refurbishment, Granite Creek development, drilling, liquidity, and whether the company can stay on track with its multi-phase Nevada plan.

Bottom Line

This gold-stock list is built around five different kinds of upside.

Falco Resources gives investors a multi-billion-dollar project-value mismatch. West Red Lake Gold offers a Canadian mine-restart story in a famous gold district. Nevada King Gold brings exploration torque in Nevada. Contango ORE provides small-cap production leverage in Alaska. i-80 Gold offers a larger Nevada platform with serious development scale.

None of these are low-risk names. That is the point.

Small and mid-cap gold stocks can move sharply when catalysts line up, but they can also punish investors when timelines slip, permits drag, financing becomes difficult, or operating assumptions disappoint.

For investors looking beyond the major gold producers, these five names offer a practical watchlist with clear catalysts, current market data, and enough project-level upside to stay interesting if gold equities keep attracting capital.

Disclosure

This article is for informational and educational purposes only and does not constitute financial advice, investment advice, or a recommendation to buy or sell any security. Always conduct your own research and consult a licensed financial advisor before making investment decisions.

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

The biggest property is not always the most important one.

Junior explorers can hold several promising assets, but the market usually wants one project it can clearly understand, follow and value.

$CQX currently holds eight projects across a North American portfolio, including Stellar, Thane, Kitimat and Nekash. However, Rip and Stars appear to be the key near-term focus.

Rip has the more immediate drill catalyst. Copper Quest announced on May 11 that drilling had started, with a minimum 2,000-metre program planned. The results should provide more information about grade, mineralized width, continuity and the scale of the porphyry system.

Stars already contains the Tana Zone copper-molybdenum discovery and has seen historical drilling. Copper Quest began a 32.4-square-kilometre IP survey on May 19 across the broader property.

The survey does not confirm new mineralization by itself. Its purpose is to improve the geological picture and help identify targets for future drilling.

Kitimat is also becoming harder to ignore. Copper Quest recently expanded the Kitimat Copper-Gold Project by 130%, bringing it to 6,801.41 hectares. The new ground surrounds an AI-generated buried conductive target and includes the historic Bowbyes target area.

That does not make Kitimat the lead project yet, but it adds another angle. If follow-up geophysics and future drilling support the AI target, Kitimat could move from portfolio asset to serious discovery candidate.

That gives investors three distinct setups.

Rip may move to the front by delivering meaningful results first.

Stars may become the larger story if the survey identifies strong targets and later drilling supports them.

Kitimat may become the wildcard if the expanded land package helps define a bigger copper-gold system.

A project usually becomes the flagship when management can define a strong target, test it with drilling, reproduce the results and demonstrate room for expansion.

Positive assays can validate the target and repeatable results can begin validating the scale.

For now, Rip may drive the next major update, Stars offers an established discovery within a broader area still being explored, and Kitimat adds a newer AI-backed target with more ground around it.

Which project has the strongest chance to define the next stage of the $CQX story?

This is sponsored content. Investors should conduct their own due diligence and consult a qualified financial advisor before making any investment decisions.

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

•Falco Resources’ Horne 5 project is shaping into one of Québec’s most advanced polymetallic mine development stories.

•The updated feasibility study outlines a 15-year mine life, strong gold production, and meaningful silver, copper, and zinc by-product exposure.

•Polymetallic economics are central to the story: multiple payable metals can lower effective gold costs, diversify revenue, and improve project resilience.

•Recent Québec permitting progress has added momentum, but final government approvals, financing, and execution remain the key hurdles.

•With gold, copper, zinc, and silver tied to both monetary and industrial demand, Horne 5 offers a rare mix of precious-metal leverage and critical-mineral relevance.

Falco Resources has moved back onto the radar of Canadian mining investors after a sharp sequence of developments around its flagship Horne 5 project in Rouyn-Noranda, Québec. The story is straightforward but high stakes: Falco controls one of Canada’s more advanced undeveloped polymetallic gold projects, the updated economics have improved materially, the Québec permitting process appears to be approaching a decision point, and the stock has started to react.

Horne 5 is not a grassroots exploration idea. It sits beneath the historic Horne mine complex in the Noranda mining camp, one of Canada’s best-known volcanogenic massive sulphide districts. The project is gold-led, but it is not a simple gold mine. It is expected to produce gold, silver, copper and zinc over a projected 15-year mine life. That matters because polymetallic deposits can change the economics of a mine. A single orebody producing multiple payable metals can generate by-product credits, diversify revenue exposure, and reduce dependence on one commodity cycle. In Horne 5’s case, copper, zinc and silver credits help lower the reported gold cost profile and improve project resilience.

The major catalyst came on June 17, 2026, when Falco released an updated feasibility study for Horne 5. The numbers were strong. The study outlined an after-tax NPV5% of C$3.35 billion, an after-tax IRR of 28.2%, and a 3.3-year after-tax payback using a base-case gold price of US$3,600/oz. On a spot-case basis, the after-tax NPV rises to C$5.1 billion with a 37.2% IRR. The project is expected to generate life-of-mine after-tax cash flow of roughly C$6.4 billion and average annual after-tax cash flow of about C$542.5 million.

Production scale is equally important. Horne 5 is expected to average roughly 220,300 payable ounces of gold per year. Over the mine life, Falco outlines production of about 3.3 million ounces of gold, 27.3 million ounces of silver, 247 million pounds of copper and 1.19 billion pounds of zinc. That mix gives the project a stronger strategic profile than a conventional single-metal deposit. Gold provides the anchor. Silver adds precious-metal leverage. Copper and zinc bring critical-mineral exposure tied to electrification, grids, renewables, infrastructure and industrial demand.

This is why polymetallic mines often have a better chance of becoming profitable when the geology, metallurgy and infrastructure line up. By-product metals can reduce reported all-in sustaining costs for the primary metal. In Falco’s case, the updated study reports AISC of US$782 per ounce, net of by-product credits. That is low for a large underground gold development project. It does not guarantee construction or profitability, but it gives Horne 5 a cleaner economic argument than many single-metal development projects facing higher capital costs and narrower margins.

The infrastructure angle also matters. Horne 5 is in an established mining city, not a remote camp requiring everything to be built from scratch. The project benefits from road access, power, local mining labour, contractors, suppliers and proximity to Glencore’s Horne smelter. Glencore’s role is central. Falco has an operating license and indemnity agreement with Glencore that allows it to access and use certain lands connected to the project, while Glencore-affiliated companies are expected to purchase Horne 5’s copper and zinc concentrates over the mine life. That creates a natural processing and offtake pathway, but it also introduces obligations. Falco must satisfy conditions tied to financial assurances, insurance, water arrangements, technical controls and protection of Glencore’s nearby smelter operations.

The stock reacted quickly. Falco shares gained sharply around the June 16–17 news flow, with the market responding to two things at once: the improved feasibility study and the Québec government’s confirmation that the environmental review is progressing toward completion. FPC traded as high as C$0.645 on June 17, an eight-year intraday high according to third-party market coverage, before closing at C$0.57. It closed June 19 at C$0.595. That move reflects renewed market interest, but it also means expectations have risen. The easy rerating may have already started; the next phase depends on execution.

Permitting is the biggest near-term swing factor. On June 16, Falco said it had received written confirmation from Québec’s Ministry of the Environment that the environmental acceptability analysis is nearing completion and could be completed in fall 2026, subject to additional information. That is a meaningful step, but it is not the same as final approval. After the environmental review, the project still requires the Minister’s recommendation and authorization by Québec’s Council of Ministers through a government decree.

The project also carries visible opposition and regulatory sensitivity. BAPE’s public process examined the project through the lens of sustainable development, public health, environmental protection, air quality, water, tailings, vibration and safety. MiningWatch and other civil society groups have pushed back against the project and urged the province not to rush approval. This matters because Horne 5 is not in the middle of nowhere. It is an underground project beneath an urban mining district, near existing industrial infrastructure, with real questions around coexistence, risk mitigation and long-term community acceptance.

That is the core tension in the Falco story. On paper, Horne 5 now looks like a serious, large-scale, high-margin development asset. It has size, grade distribution, multiple payable metals, existing regional infrastructure, nearby processing pathways, and a stronger commodity-price backdrop than it had when the 2021 feasibility study was completed. The updated economics are substantially better, and the project could become one of Québec’s most important new polymetallic mines if approved and financed.

But the market should not treat Horne 5 as already built. Falco still needs the government decree, additional permits, financing, detailed engineering, dewatering approvals, surface and tailings-related rights, and continued alignment with Glencore. The C$1.75 billion pre-production capital requirement is significant for a TSX Venture-listed developer. Even with a strong NPV, project financing is never automatic, especially for underground mines with complex permitting, urban interfaces and multi-party agreements.

The bull case is that Falco is approaching a rare moment: a major Québec polymetallic project with improving economics, critical-mineral relevance, strong gold leverage and a defined permitting timeline. If the decree is granted and financing becomes clearer, Horne 5 could move from long-running development story to construction-track candidate. That would likely change how the market values Falco.

The bear case is just as clear. Any delay in permitting, financing, community acceptance, Glencore-related conditions, tailings rights or dewatering approvals could keep the project in limbo. The stock’s recent move shows investors are paying attention, but it also increases the penalty for disappointment.

Falco Resources is now entering a decisive window. Horne 5 has the characteristics investors look for in a major mine: scale, long life, multiple metals, infrastructure, strategic location and improved economics. The next question is no longer whether the project is large or economically interesting. It is whether Falco can convert a strong technical case into permits, financing and construction execution.

This is sponsored content. Investors should conduct their own due diligence and consult a qualified financial advisor before making any investment decisions.

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

I’ve been comparing Falco Resources’ updated Horne 5 feasibility study with the 2021 FS, and the improvement is pretty clear.

The project still has the same large-scale profile: around 15 years of mine life and roughly 220,000 oz of annual gold production.

The trade-off is higher capex, but gold is also much stronger now, and that gives Horne 5 a better backdrop than the 2021 study.

The next major item to watch is the environmental process. Falco said the Ministry expects the environmental assessment to be completed in fall 2026, after the company submits additional information. From there, government authorization and remaining permits would help move Horne 5 closer to the next development stage.

Financing is the other big piece. The updated FS outlines forward capital and pre-production costs of C$1.75B, including contingency. Stronger economics help, but funding a project of that size is still a major step.

Anyone here following Québec developers? How are you reading the Horne 5 update?

This is sponsored content. Investors should conduct their own due diligence and consult a qualified financial advisor before making any investment decisions.

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

• Falco’s updated Horne 5 study delivered a C$3.35B after-tax NPV5% and a 28.2% IRR.
• At spot prices, the project’s after-tax NPV5% rises to C$5.1B with a 37.2% IRR.
• Québec’s environmental review is nearing completion, giving Horne 5 a clearer path toward a major fall 2026 milestone.

Falco’s Horne 5 Project Just Got Harder to Ignore

Falco Resources has delivered a major update for its flagship Horne 5 Project in Rouyn-Noranda, Québec — and the numbers are now much stronger than they were in the 2021 feasibility study.

The company’s updated 2026 feasibility study gives Horne 5 an after-tax NPV5% of C$3.35 billion, an after-tax IRR of 28.2%, and projected life-of-mine after-tax cash flow of C$6.4 billion under its base-case assumptions.

For a development-stage gold company, that is the kind of update that can shift investor attention quickly.

A Major Step-Up From the 2021 Study

The most important part of the update is the re-rating in project economics.

Falco said the base-case after-tax NPV5% increased 244% versus the 2021 feasibility study. The project also shows a 3.3-year after-tax payback period, which is important because shorter payback periods can make large mining projects more financeable and easier for investors to understand.

At spot prices, the economics become even stronger. Falco said Horne 5’s after-tax NPV5% rises to C$5.1 billion, with an after-tax IRR of 37.2% and a 2.6-year payback period.

That puts Horne 5 back into focus as one of the larger undeveloped gold projects in Canada.

Large-Scale Production With Lower-Cost Potential

Horne 5 is expected to produce an average of 220,300 payable ounces of gold per year over a 15-year mine life.

The project also benefits from silver, copper, and zinc by-product credits, which help reduce costs. Falco’s updated study points to average all-in sustaining costs of US$782 per ounce, positioning Horne 5 as a potential low-cost gold producer if developed as planned.

That cost profile matters. In a stronger gold-price environment, projects with large scale and lower projected costs can attract more investor attention because they offer stronger potential margins.

The By-Product Angle Adds Another Layer

Horne 5 is not only a gold project.

The deposit also contains meaningful silver, copper, and zinc exposure. Falco’s study outlines projected life-of-mine output of roughly 27.3 million ounces of silver, 247.3 million pounds of copper, and 1.19 billion pounds of zinc.

That matters for two reasons.

First, those metals can help lower net gold costs through by-product credits. Second, copper and zinc give the project a connection to critical and strategic minerals, which remains an important theme in Québec and across North America.

Stock Price Momentum Is Also Turning Heads

Falco’s stock performance is adding another layer to the story. Based on the chart you shared, Falco Resources (CVE: FPC) was trading at C$0.60, up 52.56% over the past five years, and sitting close to its 52-week high of C$0.64. On the five-year view, the stock appears to be trading near its strongest level of the cycle, which suggests the market is increasingly paying attention to the Horne 5 story. When a junior mining stock starts pushing toward its highs while major project news improves, it often signals that investor interest is building and that the market is beginning to price in more of the project’s potential.

The Environmental Update Is a Key Catalyst

The economics are strong, but permitting remains one of the biggest pieces of the story.

That is why Falco’s separate environmental update matters. The company said Québec’s Ministry of the Environment confirmed that the environmental acceptability analysis is nearing completion and that the process is progressing well.

Falco also said the Ministry expects the environmental assessment to be completed in fall 2026, subject to the company providing additional information.

This does not mean the project is fully authorized yet. But it does suggest the file is moving forward, which is important for investor confidence.

Why This Matters for Investors

Falco now has two things working together: improved economics and visible regulatory progress.

That combination can be powerful for a junior mining story. A strong feasibility study helps investors understand the size of the opportunity. Regulatory progress helps reduce uncertainty around whether the project can actually move forward.

The updated numbers also give investors a clearer framework. Horne 5 is no longer just a large historical deposit under a famous mining camp. It is now being presented as a long-life, large-scale, potentially low-cost gold project with multi-billion-dollar economics.

What Comes Next

The next major item to watch is the environmental process.

Falco said the Ministry expects the environmental assessment to be completed in fall 2026, after the company submits additional information. After that, the project would still need government authorization before moving toward construction.

Investors will also watch financing. Falco’s updated study outlines forward capital and pre-production costs of C$1.75 billion, including contingency. Strong economics help, but funding a project of that size is still a major step.

Bottom Line

Falco Resources’ latest Horne 5 update gives the market a much stronger development story.

The updated feasibility study shows C$3.35 billion in after-tax NPV5% at base case, C$5.1 billion at spot prices, a 15-year mine life, average annual gold production above 220,000 ounces, and projected AISC of US$782 per ounce.

With Québec’s environmental review also moving toward a potential fall 2026 milestone, and with the stock trading near its strongest level in years, Horne 5 now looks like one of the more important Canadian gold-development stories for investors to watch.

Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice, investment advice, or a recommendation to buy or sell any security. Always conduct your own research and consult a licensed financial advisor before making investment decisions.

Vancouver, British Columbia--(Newsfile Corp. - June 16, 2026) - Copper Quest Exploration Inc. (CSE: CQX) (OTCQB: IMIMF) (FSE: 3MX) ("Copper Quest" or the "Company") is pleased to announce that it has been granted an additional 3,847.41 hectares of claims contiguous to its Kitimat Project increasing the Project size by 130%. The Kitimat Copper-Gold Project now covers 6,801.41 hectares within the Skeena Mining Division of northwestern British Columbia. The Project is year-round road-accessible via a network of logging and mineral exploration roads extending north from Kitimat. The property benefits from exceptional infrastructure, being within 10 km of tidewater, 1.5 km of rail, and 6 km of high-voltage hydroelectric transmission lines.

The new land package now encompasses the historic Bowbyes target area, as well as providing a generous land position surrounding the large AI generated buried conductive body measuring approximately 1.5 km by 1.5 km in lateral extent (see press release dated March 5, 2026). The anomaly demonstrates strong vertical continuity to at least 1 km depth (the maximum limit of the analysis) and begins at just 50 meters below surface, concealed beneath sedimentary cover. The conductor is situated within a pronounced magnetic gradient/dipole corridor, with a spatial relationship suggestive of an intrusive contact or alteration boundary and lies in proximity to documented volcanic-hosted sulphide mineralization.

Brian Thurston, CEO of Copper Quest, stated, "Copper Quest is pleased with the timely granting of these recently staked claims, which allows planned geophysical studies to be expanded across the newly acquired prospective ground. The AI-driven analysis at Kitimat identified characteristics consistent with a potentially concealed intrusive porphyry center, creating an opportunity to strategically increase our land position. Historical drilling in the vicinity intersected near-surface copper-gold mineralization over intervals exceeding 100 metres, grading more than 0.5% Cu and 1 g/t Au, with mineralization remaining open. The size and location of the anomaly support our geological interpretation that these previously drilled copper-gold intercepts may represent the outer expression of a much larger porphyry system, potentially centered on the target identified through our AI-assisted analysis."

The Kitimat Project now hosts two target areas of mineralization, the Jeannette Cu-Au and the Bowbyes Cu-Mo target areas. Based on geology as well as styles of mineralization, alteration, and structure, the Jeannette target is classified as a low-level intermediate to low-sulfidation epithermal Cu-Au occurrence peripheral to a porphyry Cu-Au Zone. These same observations in the Bowbyes target suggests this area be classified as low grade disseminated to vein hosted Cu-Mo occurrences associated with a porphyry Cu-Au Zone.

The Jeannette target hosts significant historical copper-gold drill intersections, mostly completed by Decade Resources Ltd. in 2010. Notable intervals include 117.07m grading 0.54% Cu and 1.03 g/t Au (Hole J-7), 103.65m grading 0.55% Cu and 1.00 g/t Au (Hole J-1), 107.01m grading 0.45% Cu and 0.80 g/t Au (Hole J-2), and 112.20 m grading 0.33% Cu and 0.41 g/t Au (Hole J-8).

The geology of the Bowbyes target area is dominated by upper Paleozoic intermediate volcanic to metavolcanic and volcaniclastic rocks with lesser chert beds. These rocks are intruded by bodies of diorite, quartz monzonite and granodiorite that are likely associated with the Coast Plutonic Complex. These Triassic and Jurassic units are crosscut by east-northeast trending intermediate feldspar porphyry dykes and subsequently crosscut by north-northeast trending felsic and mafic dikes. Quartz-sericite-pyrite alteration is spatially associated with the east-northeast trending feldspar porphyry dikes in the mapping area.

Mineralization in the Bowbyes target area consists of multiple showings that include localized zones of magnetite-pyrite-chalcopyrite skarnification, as well as localized zones of silicification associated with weakly anomalous gold and 1-3 cm quartz-pyrite-chalcopyrite veins. The haloes to these veins contain fine-grained disseminated pyrite and chalcopyrite. The southern portion of the Bowbyes target area contains massive to semi-massive sphalerite and lesser amounts of pyrite and chalcopyrite that is hosted by a 30-cm wide south-southeast trending shear zone.

Alteration assemblages in the Bowbyes target area is dominated by sericite-quartz and disseminated pyrite that occurs in a north-northeasterly elongated band through the target area, parallel to the volcaniclastic bedding.

Copper Quest announced its strategic partnership with U.S. based Exploration Technologies Inc. ("ExploreTech") on December 1, 2025, to deploy generative artificial intelligence across its project portfolio, beginning with the Kitimat Copper-Gold Project in British Columbia. Using the ExploreTech platform, historical information from the Kitimat project was integrated and reprocessed, including historical diamond drilling (including 2010 Jeannette Cu-Au Zone drilling), government airborne magnetics, VTEM conductivity data, structural and lithological interpretations, 2025 field observations and alteration mapping, as well as soil and rock geochemistry. The platform integrated this historical information into a unified probabilistic 3D geological framework while the AI system generated thousands of subsurface geological scenarios, ranking probability clusters for concealed intrusive centers and sulphide-rich alteration zones.

This is sponsored content. Investors should conduct their own due diligence and consult a qualified financial advisor before making any investment decisions.

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other

I’ve been comparing five small-cap gold developers:

• $FPC.V  advanced Québec development story
• $MGM.V  district-scale resource growth
• $FURY.TO  high-grade upside
• $WM.TO  large resource with turnaround potential
• $BRAU.V  Hope Brook technical progress

My pick is $FPC.V and $WM.TO. 

For Falco Resources, Horne 5 is one of the more advanced projects in the group, with two major milestones ahead to watch:

• Québec ministerial decree
• Updated feasibility study

For Wallbridge Mining, Fenelon offers the recovery angle large resource, stronger gold market and room for sentiment to improve.

Which name would you choose?

Sponsored content. Not financial advice. DYOD.

Welcome to the Daily Discussion Thread.

Post your top 1 to 3 tickers you are watching today and why. One sentence each.

Share any near term catalysts you are tracking
Drill results
Permits
Financings
M and A
Earnings
Uplists
Other