Conquest Resources Announces Adoption of Semi-Annual Reporting

Toronto, April 27, 2026 - Conquest Resources Ltd. (TSXV: CQR) ("Conquest" or the "Company") announces that it has elected to adopt semi-annual financial reporting relying on Coordinated Blanket Order 51-933 - Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the "Blanket Order").

The Company will file interim financial statements and related management's discussion and analysis on a semi-annual basis rather than quarterly.

The first interim period for which the Company will rely on the Blanket Order is the three-month period ending March 31, 2026, for which the Company will not file interim financial statements or MD&A. The first semi-annual reporting period will be the six-month period ending June 30, 2026. The Company intends to continue filing on a semi-annual basis.

The Company believes that adopting semi-annual reporting will reduce the administrative and financial burden associated with quarterly reporting and is consistent with the objective of the Blanket Order to provide reporting flexibility for venture issuers. The Company expects that the reduced reporting requirements will allow management to devote additional time and financial resources toward advancing the Company's exploration and development activities and other business objectives.

ABOUT CONQUEST

Conquest Resources Limited, incorporated in 1945, is a mineral exploration company that is exploring for base metals and gold on mineral properties in Ontario and Finland.

Conquest recently acquired the Valimaki Gold Project in southwestern Finland, a district-scale gold exploration property with extensive historical exploration and drilling. Valimaki is situated within the Svecofennian geological domain between two major regional shear zones and hosts orogenic-style gold mineralization associated with quartz veining and arsenopyrite-bearing amphibolite-grade volcanic, sedimentary, and intrusive rocks.

Conquest has completed a high-resolution drone magnetic survey on the Valimaki Project and is currently geologically mapping the property in detail to establish drill targets. Targets will be drilled upon receipt of permits.

Conquest holds a 100% interest in the Belfast-Teck Mag Project, located in the Temagami Mining Camp at Emerald Lake, Ontario, which is believed to have exceptional exploration upside for magmatic sulphide deposits (Cu-Ni-PGE), VMS, IOCG, Iron formation hosted Au and Paleo-placer Au.

The Belfast-Teck Mag Project evolved from the Golden Rose Project, which was initially acquired in December 2017, and significantly augmented through the acquisition of Canadian Continental Exploration Corp. ("CCEC") in 2020 and subsequent additional claim staking and purchases. Conquest now controls over 300 square kilometers of underexplored territory in the Temagami Mining Camp, including the past producing Golden Rose Mine at Emerald Lake.

Conquest also holds a 100% interest in the Alexander Gold Property located immediately east of the Red Lake and Campbell mines in the heart of the Red Lake Gold Camp along the important "Mine Trend" regional structure. Conquest's property is almost entirely surrounded by Evolution Mining landholdings.

In addition, the Company holds interests in the Smith Lake Gold Property near Missinaibi, Ontario, and the King Bay Gold Property at Sturgeon Lake, in northwestern Ontario.

Conquest has 154,477,106 shares outstanding.

Cautionary Statement Regarding Forward-Looking Information

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release.

Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in the Company's latest MD&A filed on April 24, 2026, which is available under the Company's SEDAR+ profile at www.sedarplus.ca and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.

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 news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294415