Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) (‘ Copper Quest ‘ or the ‘ Company ‘) is pleased to announce that it has entered into a definitive agreement to acquire a 100% interest in the Kitimat Copper-Gold Project (the ‘Project’), located approximately 10 kilometers northwest of the deep-water port community of Kitimat, British Columbia.

PROJECT OVERVIEW

The Kitimat Copper-Gold Project covers approximately 2,954 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.

Geologically, the Project is situated within the Stikine Terrane, a prolific belt that hosts numerous porphyry copper-gold systems and is underlain by Late Triassic volcanic rocks intruded by Jurassic diorite and granodiorite bodies of the Coast Plutonic Complex. The Project’s principal target areas is the Jeannette Cu-Au Zone displaying alteration and mineralization interpreted to represent low-level intermediate to low-sulfidation epithermal expressions of a larger Cu-Au porphyry system.

HISTORICAL EXPLORATION & HIGHLIGHTS

Exploration on the Kitimat property dates back to the late 1960s, with multiple operators conducting geochemical, geophysical, and drilling campaigns. The most significant historical work was conducted by Decade Resources Ltd. (2010), which completed 16 diamond drill holes totaling 4,437.5 meters in the Jeannette Cu-Au Zone. Notable results include:

• Hole J-7: 117.07 m grading 1.03 g/t Au, 0.54% Cu, from 1.52 m to 118.60 m.
• Hole J-1: 103.65 m grading 1.00 g/t Au, 0.55% Cu, from 9.15 m to 112.80 m.
• Hole J-2: 107.01 m grading 0.80 g/t Au, 0.45% Cu, from 6.10 m to 113.11 m.
• Hole J-8: 112.20 m grading 0.41 g/t Au, 0.33% Cu, from 11.89 m to 124.09 m.

The mineralized intervals encountered in the 2010 drilling demonstrate continuous near-surface copper-gold mineralization extending over significant widths, remain open at depth within the Jeannette Zone, and occur within a broader hydrothermal system that is interpreted to extend laterally beyond the area tested.

ACQUISITION DETAILS

Under the terms of the agreement Copper Quest has until January 5, 2026 to complete a due diligence review of the Project. Upon successful review, the Company will issue 2,000,000 common shares to the vendor, Bernie Kreft, on January 6, 2026, as full consideration for the acquisition. The Project is subject to a 2.5% net smelter return (NSR) royalty, of which 40% may be repurchased by the Company for CAD $1,000,000. Copper Quest will also retain a right of first refusal on any transaction involving the sale of the remaining royalty interest. Copper Quest has until

Mr. Kreft is a well-known Canadian prospector, entrepreneur, and former star of the Discovery Channel’s Yukon Gold television series. He has a long track record of successful mineral discoveries and project generation across British Columbia and Yukon.

A finder’s fee is payable in connection with the acquisition.

MANAGEMENT COMMENTS

Brian Thurston , CEO of CopperQuest, commented:

‘The addition of the Kitimat Copper-Gold Project demonstrates Copper Quest’s continued effort to add shareholder value through the acquisition of critical mineral projects. This project is ideally located with exceptional infrastructure, in a proven geological belt known for hosting major copper-gold systems. The strong historical drill results from the Jeannette zone speak to the potential of a larger near-surface mineralized system. We look forward to advancing this asset as part of our growing copper-gold portfolio.’

NEXT STEPS

• The Company plans to leverage artificial intelligence (AI) analysis to integrate all historical and modern exploration data to establish a comprehensive geological and geophysical model for the Kitimat Porphyry Project and improve targeting precision.
• Additional geological mapping, sampling, and geophysical surveys may be completed to refine priority drill targets as required. Field work could include ground magnetics, induced polarization (IP), and passive seismic to better define subsurface structure and mineralization trends.
• A follow-up drill program would test key targets within the interpreted geology and surrounding high-grade corridors.

QUALIFIED PERSON

Brian G. Thurston, P.Geo., the Company’s President and CEO and a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release.

ABOUT COPPER

Despite surging demand, global copper supply remains constrained. Ore grades are declining at major mines, permitting timelines for new projects have lengthened, and geopolitical tensions are reshaping supply chains toward stable, transparent jurisdictions. Governments in Canada, the U.S., and allied nations have increasingly identified copper as a strategic and critical metal necessary for economic and national security. Within this context, Copper Quest’s acquisition of the Kitimat Copper-Gold Project in British Columbia positions the Company to advance a discovery-stage asset in one of the world’s safest and most infrastructure-rich mining jurisdictions — precisely when new, scalable copper sources are most needed.

ABOUT Copper Quest Exploration Inc.

Copper Quest (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) is focused on building shareholder value through the acquisition, exploration and development of its North American Critical Mineral portfolio of assets. The Company’s land package currently comprises five projects that span over 40,000+ hectares in great mining jurisdictions.

Copper Quest has a 100% interest in the Stars Property, a porphyry copper-molybdenum discovery, covering 9,693 hectares in central British Columbia’s Bulkley Porphyry Belt. Contiguous to the Stars Property, Copper Quest has a 100% interest in the 5,389-hectare Stellar Property. CQX also has an earn-in option up to 80% and joint-venture agreement on the 4,700-hectare porphyry copper-molybdenum Rip Project, also in the Bulkley Porphyry Belt.

Copper Quest has a 100% interest in the Nekash Copper-Gold Project, a porphyry exploration opportunity located in Lemhi County, Idaho, along the prolific Idaho-Montana porphyry copper belt that hosts world-class systems such as Butte and CUMO. The project is fully road-accessible via maintained U.S. highways and forest service roads and currently consists of 70 unpatented federal lode claims covering 585 hectares.

Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern BC which spans over 20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal mineralization potential.

Copper Quest’s leadership and advisory teams are senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Copper Quest is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which it operates. The Company’s common shares are principally listed on the Canadian Stock Exchange under the symbol ‘CQX’. For more information on Copper Quest, please visit the Company’s website at www.copper.quest .

On behalf of the Board of Copper Quest Exploration Inc.

Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829

For further information contact:

Investor Relations
info@copper.quest

Forward Looking Information

This news release contains certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘ forward-looking statements ‘) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included herein, including without limitation, future operations and activities of Copper Quest, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as ‘expects’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘potential’, ‘possible’, and similar expressions, or statements that events, conditions, or results ‘will’, ‘may’, ‘could’, or ‘should’ occur or be achieved. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

• Strong mineralisation along the Contact Zone Fault (‘CZ Fault’) confirmed with multiple broad gold intercepts, including 10.0 m at 2.50 g/t Au and 11.0 m at 0.51 g/t Au at the Road Cut Zone
• High-grade near-surface intersections such as 1.0 m at 17.30 g/t Au at the Jagger Zone underscore the strength of gold-bearing shears and continuity within the Jagger structural corridor
• Excellent down-dip and along-strike continuity demonstrated across a 300-m section of the CZ Fault, reinforcing the Company’s structural model and confirming the growth potential of the Kossou Gold Project

Kobo Resources Inc. (‘ Kobo’ or the ‘ Company ‘) ( TSX.V: KRI ) is pleased to report additional diamond drill results from its ongoing program at the 100%-owned Kossou Gold Project (‘ Kossou ‘) in Côte d’Ivoire, West Africa.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251030239742/en/

Diamond Drill Results Highlights:

Road Cut Zone:

• KDD0104
  • 7.0 metres (‘m’) at 1.20 g/t Au from 72.0 m
  • 13.0 m at 1.49 g/t Au from 93.0 m
• KDD0109
  • 10.0 m at 2.50 g/t Au from 41.0 m, incl. 6.0 m at 3.77 g/t Au from 45.0 m
  • 10.0 m at 1.86 g/t Au from 204.0 m
  • 11.0 m at 0.51 g/t Au from 229.0 m

Jagger Zone

• KDD0100
  • 1.0 m at 17.30 g/t Au from 38.0 m
  • 1.0 m at 3.72 g/t Au from 94.0 m
  • 9.0 m at 1.04 g/t Au from 172.0 m
  • 11.0 m at 1.26 g/t Au from 188.0 m

Edward Gosselin, CEO and Director of Kobo commented: ‘The latest results continue to confirm strong, continuous gold mineralisation along the Contact Zone Fault. These results also further define parallel gold-bearing shears within both the Road Cut Zone and Jagger Zone structural corridors, reinforcing our confidence in the scale and continuity of the system.’ He continued: ‘The new drilling has outlined broad mineralised zones with strong down-dip continuity and encouraging grades near surface and at depth, all consistent with our geological model for Kossou. Together, these results continue to strengthen our view that Kossou hosts a robust and growing gold system with significant potential for resource expansion as drilling progresses.’

Road Cut Zone Highlights

Drilling at the Road Cut Zone targeted a 300-m strike length between sections RCZ400 and RCZ700 , with results confirming mineralisation along and adjacent to the CZ Fault. Boreholes KDD0104 and KDD0109 on section RCZ600 returned some of the strongest results to date:

• KDD0109 intersected 10.0 m at 2.50 g/t Au from 41.0 m, including 6.0 m at 3.77 g/t Au from 45.0 m, as well as 10.0 m at 1.86 g/t Au from 204.0 m and 11.0 m at 0.51 g/t Au from 229.0 m.
• KDD0104 returned 13.0 m at 1.49 g/t Au from 93 m and 7.0 m at 1.20 g/t Au from 72 m, located approximately 20 m west of the CZ Fault.

The mineralised intersections in boreholes KDD0104 and KDD0109 along the CZ Fault are comparable in both grade and thicknesses reported previously in borehole KDD0098 . This hole shows a good degree of consistency and continuity down dip of the prominent shear zone.

The upper mineralised intersection of 10.0 m at 2.50 g/t Au in KDD0109 also confirms an excellent down-dip continuity of gold mineralisation first identified in hole KDD0014 (9.0 m at 4.27 g/t Au) , establishing a robust, gold-bearing structure up to 175.0 m from the main fault.

Additional intercepts along the CZ Fault include 10.0 m at 0.55 g/t Au and 5.0 m at 1.75 g/t Au in KDD0102 , while KDD0105 returned a 1 m interval at 5.05 g/t Au associated with quartz veining south of RCZ600 . Collectively, the Road Cut Zone results confirm consistent gold mineralisation along a 150-200 m section of the CZ Fault, highlighting its potential as a major first-order control on mineralisation.

Jagger Zone Highlights

Drilling at the Jagger Zone was completed across two 50-m sections (JZ750 and JZ800) , designed to test continuity within the central shear and southern extensions of the zone.

• KDD0100 intersected 1.0 m at 17.30 g/t Au from 38.0 m , 9.0 m at 1.04 g/t Au from 172.0 m , and 11.0 m at 1.26 g/t Au from 188.0 m , demonstrating higher grades and continuity within the core of the Jagger shear zone compared to earlier holes (e.g., KDD0031 – 4.0 m at 3.26 g/t Au ).
• KDD0106 returned 3.3 m at 0.96 g/t Au from 62.7 m near surface, confirming the presence of mineralised shears along the southern continuation of Structure 6.

Although shallow holes KDD0106 and KDD0108 intersected lower-grade mineralisation, results at depth confirm that well-defined shears persist below 200 m , warranting follow-up drilling to extend these high-grade zones down dip.

Table 1: Summary of Significant Diamond Drill Hole Results

An accurate dip and strike and controls of mineralisation are unconfirmed and mineralised zones are reported as downhole lengths. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances, true widths are unknown.

Sampling, QA/QC, and Analytical Procedures

Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Core samples are drilled using HQ core barrels to below the level of oxidation and then reduced to NQ core barrels for the remainder of the bore hole. Samples are transported to the SGS Côte d’Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample every 20 samples. All QAQC control samples returned values within acceptable limits.

Review of Technical Information

The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, P.Geo., who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo.

About Kobo Resources Inc.

Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d’Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company’s 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region’s largest gold mines with established processing facilities.

With over 24,411 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou’s Gold Project. Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.

Beyond Kossou, the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d’Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo’s common shares trade on the TSX Venture Exchange under the symbol ‘KRI’. For more information, please visit www.koboresources.com .

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement on Forward-looking Information:

This news release contains ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements’) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251030239742/en/

For further information, please contact:

Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.

Coelacanth Energy Inc. (TSXV: CEI,OTC:CEIEF) (‘Coelacanth’ or the ‘Company’) is pleased to provide the following update:

BANK CREDIT FACILITY
Coelacanth has signed an agreement to increase its bank credit facility from $52 million to $80 million with closing expected in mid-November. The Company estimates net bank debt relative to the credit facility to be $43 million as at September 30, 2025. The additional liquidity provided will be used, in part, to fund the fall drilling program noted below.

OPERATIONS UPDATE
Coelacanth is currently drilling 3 additional wells in the Lower Montney on its 5-19 Pad at Two Rivers East. Completions are anticipated for late November for an on-stream date of early February 2026. Coelacanth’s last 3 wells on the pad tested a combined 4,872 boe/d (60% light oil) and similar results are expected⁽¹⁾.

Coelacanth is currently producing 4 of its 9 wells on the 5-19 pad plus its legacy production at Two Rivers West. Based on field estimates, current production is approximately 4,400 boe/d (40% light oil). The remaining 5 wells are scheduled to come on production sequentially from mid-November until year-end. Test production on the 5 remaining wells was approximately 6,400 boe/d on a combined basis but net of flush production and declines, Coelacanth estimates production will be approximately 8,400 boe/d (40% light oil) at year-end and then exceed 10,000 boe/d in February 2026 when the new wells are on production ⁽¹⁾.

Coelacanth’s business plan includes delineating and developing its large Montney resource that includes 4 potential Montney benches on its 150 section contiguous block of land at Two Rivers in northeast British Columbia.

(1) See ‘Test Results and Initial Production Rates’.

HEDGE POSITION

In conjunction with the drilling program and anticipated new wells coming on production, Coelacanth has placed the following hedges:

Coelacanth is pleased with the results to date and the progression of the business plan.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Oil and Gas Terms
The Company uses the following frequently recurring oil and gas industry terms in the news release:

Disclosure provided herein in respect of a boe may be misleading, particularly if used in isolation. A boe conversion rate of six thousand cubic feet of natural gas to one barrel of oil equivalent has been used for the calculation of boe amounts in the news release. This boe conversion rate is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Product Types
The Company uses the following references to sales volumes in the news release:

Natural gas refers to shale gas
Oil refers to tight oil
NGLs refers to butane, propane and pentanes combined
Liquids refers to tight oil and NGLs combined
Oil equivalent refers to the total oil equivalent of shale gas, tight oil, and NGLs combined, using the conversion rate of six thousand cubic feet of shale gas to one barrel of oil equivalent as described above.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘believe’, ‘intends’, ‘forecast’, ‘plans’, ‘guidance’ and similar expressions are intended to identify forward-looking statements or information.

More particularly and without limitation, this document contains forward-looking statements and information relating to the Company’s oil, NGLs and natural gas production and capital programs. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions relating to prevailing commodity prices and exchange rates, applicable royalty rates and tax laws, future well production rates, the performance of existing wells, the success of drilling new wells, the availability of capital to undertake planned activities and the availability and cost of labor and services.

Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, it can give no assurance that such expectations will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the uncertainty of estimates and projections relating to production rates, costs and expenses, commodity price and exchange rate fluctuations, marketing and transportation, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in tax, royalty and environmental legislation. The forward-looking statements and information contained in this document are made as of the date hereof for the purpose of providing the readers with the Company’s expectations for the coming year. The forward-looking statements and information may not be appropriate for other purposes. The Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Test Results and Initial Production Rates

The 5-19 Lower Montney well was production tested for 9.4 days and produced at an average rate of 377 bbl/d oil and 2,202 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The A5-19 Basal Montney well was production tested for 5.9 days and produced at an average rate of 117 bbl/d oil and 630 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The B5-19 Upper Montney well was production tested for 6.3 days and produced at an average rate of 92 bbl/d oil and 2,100 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The C5-19 Lower Montney well was production tested for 5.8 days and produced at an average rate of 736 bbl/d oil and 2,660 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The D5-19 Lower Montney well was production tested for 12.6 days and produced at an average rate of 170 bbl/d oil and 580 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable. The D5-19 Lower Montney well was tied into the 16-03 facility and produced an average rate of 546 bbl/d oil, 2,659 mcf/d natural gas, and 48 bbl/d NGLs, for a total average rate of 1,037 boe/d, on a sales basis, over the first 30 days of in-line production (IP30).

The E5-19 Lower Montney well was production tested for 11.4 days and produced at an average rate of 312 bbl/d oil and 890 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure was stable, and production was starting to decline. The E5-19 Lower Montney well was tied into the 16-03 facility, and produced an average rate of 854 bbl/d oil, 2,660 mcf/d natural gas, and 49 bbl/d NGLs, for a total average rate of 1,346 boe/d, on a sales basis, over the first 30 days of in-line production (IP30).

The F5-19 Lower Montney well was production tested for 4.9 days and produced at an average rate of 728 bbl/d oil and 1,607 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable. The F5-19 Lower Montney well was tied into the 16-03 facility, and produced an average rate of 745 bbl/d oil, 3,121 mcf/d natural gas, and 58 bbl/d NGLs, for a total average rate of 1,037 boe/d, on a sales basis, over the first 22 days of in-line production.

The G5-19 Lower Montney well was production tested for 7.1 days and produced at an average rate of 415 bbl/d oil and 1,489 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The H5-19 Lower Montney well was production tested for 8.1 days and produced at an average rate of 411 bbl/d oil and 1,166 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure was stable and production was starting to decline.

The reference under the ‘Operations Update’ to the last 3 wells drilled refers to the F5-19, G5-19, and H5-19 wells.

The reference under the ‘Operations Update’ to the remaining 5 wells are scheduled to come on production refers to the 5-19, A5-19, B5-19, G5-19, and H5-19 wells.

A pressure transient analysis or well-test interpretation has not been carried out on these nine wells and thus certain of the test results provided herein should be considered to be preliminary until such analysis or interpretation has been completed. Test results and initial production rates disclosed herein, particularly those short in duration, may not necessarily be indicative of long-term performance or of ultimate recovery.

Any references to peak rates, test rates, IP30, IP90, IP180 or initial production rates or declines are useful for confirming the presence of hydrocarbons, however, such rates and declines are not determinative of the rates at which such wells will continue production and decline thereafter and are not indicative of long-term performance or ultimate recovery. IP30 is defined as an average production rate over 30 consecutive days, IP90 is defined as an average production rate over 90 consecutive days and IP180 is defined as an average production rate over 180 consecutive days. Readers are cautioned not to place reliance on such rates in calculating aggregate production for the Company.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272489

(TheNewswire)

GRANDE PRAIRIE, AB TheNewswire – (October 30, 2025): Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF and OTC: ANKOF) (‘Angkor’ or ‘the Company’) announces approval from the TSX Exchange following its review of a proposed ‘shares for debt’ transaction for an aggregate $1,922,800 debt owed by the Company to certain creditors (the ‘ Debt Transactions ‘).

The Company issued an announcement on September 23, 2025 regarding shares for debt and removal of $1,922,000 of debt reduced from the balance sheet for certain creditors.   The Debt Transactions were subject to TSX approval and the TSX Exchange has approved the transactions and the issuance of 9,156,190 shares at $.21 each and 4,131,667 warrants. Each full Warrant is exercisable to purchase a common share at 0.30 for a period of 24 months from the date of issuance. The warrants shall be subject to an acceleration clause.  In the event that the Company’s shares trade at $0.40 per share or above for a period of 10 consecutive trading days, a forced exercise provision will come into effect for the warrants issued in connection with this offering.

The Common Shares to be issued will be subject to a hold period of four months and one day following the date of issuance, in accordance with applicable securities laws and TSXV policies.  With the review by the TSX Exchange complete, the transaction will now close and is considered complete.

ABOUT Angkor Resources CORPORATION:

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR’s carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions.

The company’s mineral subsidiary, Angkor Gold Corp. in Cambodia holds two mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII.  The license was reduced to roughly half the size with the Company’s voluntary removal of all parks and protected areas in March 2025 and the subsequent addition of 220 square kilometres in the northeast corner, finalizing a size of 4095.1 square kilometers.

Since 2022, Angkor’s Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Evesham, Saskatchewan.

CONTACT: Delayne Weeks – CEO

Email: info@angkorresources.com Website: angkor resources.com

Telephone: +1 (780) 831-8722

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Surface Metals Inc. (CSE: SUR,OTC:SURMF) (OTCQB: SURMF) (the ‘Company’, or ‘Surface Metals’) is pleased to provide a corporate update as gold prices have reached all-time highs in 2025 and the Company advances its portfolio of gold and lithium assets in North America.

‘Gold is reaffirming its place as the ultimate store of value,’ stated Steve Hanson, President and CEO of Surface Metals. ‘For Surface Metals, this environment represents a rare opportunity. The economics of every ounce we discover at our Cimarron Gold Project improve dramatically as gold continues to appreciate. With this historic strength in the gold market, we are advancing exploration at precisely the right time.’

Cimarron Gold Project – Nevada, USA

Located in Nye County, Nevada, the Cimarron Gold Project remains the Company’s primary near-term value driver. Surface Metals holds a 90% interest in 31 unpatented lode mining claims covering approximately 260 acres within the historic San Antonio / Tonopah mining district.

The Cimarron Project hosts multiple high-grade gold intercepts, supported by more than 190 historical drill holes. Mineralization remains open in many directions, indicating strong potential for expansion. Historic non-NI 43-101 estimates outlined roughly 50,000 ounces of contained gold, which the Company intends to update and potentially expand through further exploration.

‘Our technical team is reviewing drill targets and preparing a focused program designed to expand known mineralization and establish a compliant 43-101 resource,’ said Steve Hanson. ‘Cimarron sits in the historic Walker Lane trend, at the intersection of strong geology, extensive mineralization, in one of the pre-eminent mining districts globally.’ In April 2025, Surface Metals completed the acquisition of its 90% interest in the project.

Clayton Valley Lithium Brine Project – Building Scale in Nevada

Surface Metals’ Clayton Valley Lithium Brine Project, located adjacent to Albemarle’s Silver Peak Mine – the only producing lithium brine operation in the United States – continues to advance toward its next phase of development.

Surface Metals’ project currently hosts an inferred resource of approximately 302,900 tonnes of lithium carbonate equivalent (LCE) across a 2,230-acre land package.

‘The global transition to electric mobility and energy storage continues to drive long-term lithium demand,’ added Hanson. ‘Our Clayton Valley project benefits from its strategic location within a proven lithium district and close proximity to end users.’

Beyond Clayton Valley, Surface Metals maintains a diverse portfolio of lithium exploration projects across North America:

• Fish Lake Valley, Nevada: A 1,694-acre claystone and sedimentary lithium project prospective for near-surface lithium-bearing horizons, directly next to Ioneer’s world class lithium boron mine expected to go into construction in 2026.

Surface Metals’ lithium strategy provides shareholders with exposure to multiple deposit types across tier-one jurisdictions. This diversity positions Surface Metals to capture value across the evolving battery metals supply chain.

Surface Metals’ focus remains disciplined with plans to advance Cimarron through resource definition drilling and expansion, advance and develop our lithium resource base, and position the Company for future development or partnership opportunities.

About Surface Metals Inc.

Surface Metals Inc. (CSE: SUR,OTC:SURMF) (OTCQB: SURMF) is a North American mineral exploration company focused on advancing a diversified portfolio of gold and lithium projects in Nevada, USA, and Manitoba, Canada. The Company’s Cimarron Gold Project is located in Nye County, Nevada, in a historically productive gold district. It’s Clayton Valley Lithium Brine Project hosts an inferred resource of approximately 302,900 tonnes LCE adjacent to Albemarle’s Silver Peak Mine. Surface Metals also holds additional lithium assets in Fish Lake Valley, Nevada, and through a joint venture with Snow Lake Energy in southeastern Manitoba.

For more information, please visit: www.surfacemetals.com.

Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release contains certain statements which may constitute forward-looking information within the meaning of applicable securities laws (‘forward-looking statements’). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘projects,’ ‘potential’ and similar expressions, or that events or conditions ‘will,’ ‘would,’ ‘may,’ ‘could’ or ‘should’ occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at Surface’s project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Surface’s project location adjacent to or nearby other mineral projects does not guarantee exploration success or that mineral resources or reserves will be defined on Surface’s properties. Exploration, development, and activities conducted by regional companies provide assistance and additional data for exploration work being completed by Surface. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company’s operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Unless otherwise indicated, the market and industry data contained herein is based upon information from industry and other publications and the knowledge and experience of management. While we believe that this data is reliable, market and industry data is subject to variations and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey. We have not independently verified any of the data from third-party sources referred to in this news release or ascertained the underlying assumptions relied upon by such sources. With regard to the Cimarron Project potential quantity and grade of mineralization described is conceptual in nature as there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in targets being delineated as a mineral resource. Surface Metals has not undertaken any independent verification of drill results from historical drilling not completed by Surface Metals. Surface Metals has not independently analyzed the results of the historical exploration work in order to verify the results and believes that the historical drill results may not all conform to the presently accepted industry standards and as such should not be relied upon by the reader. Surface Metals Inc. considers these historical drill results relevant as Surface Metals Inc. will use this data as a guide to plan future exploration programs. Surface Metals Inc. also considers the data to be reliable for these purposes, however, Surface Metal Inc.’s future exploration work will include verification of the data through drilling. All technical and scientific disclosure pertaining to our mineral property interests in this news release have been reviewed by a Qualified Person, meaning an individual who is an engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these; has experience relevant to the subject matter of the mineral project and the technical report; and is a member or licensee in good standing of a professional association.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272511