QC Copper and Gold acquiring rest of Roger project for $1.67M, Quebec

QC Copper and Gold Inc. [TSXV: QCCU; OTCQB: QCCUF] has signed an arm’s-length definitive agreement to acquire the remaining 50% ownership interest in the Roger gold-copper project, located in the prolific Chibougamau mining district of Quebec. QC Copper is acquiring the remaining 50% interest from SOQUEM, a subsidiary of Investissement Quebec.

The Roger project spans 987 hectares and is located five kilometres from the historic mining centre of Chibougamau, Quebec. It is easily accessible via all-season road and has access to power. The project features an existing National Instrument 43-101-compliant mineral resource estimate, completed in August 2018. In August 2023, the company released favourable and encouraging metallurgical results from the project based on metallurgical compatibility with Opemiska.

This resource estimate is constrained in a conceptual open pit shell. The 2018 updated mineral resource estimate was prepared by GeoPointCom of Val d’Or, Que. At a cut-off grade of 0.45 g/t gold equivalent, the indicated resource is estimated at 10.9 million tonnes at 0.85 g/t of gold, 0.80 g/t of silver and 0.06% of copper, for a total of 333,000 ounces of gold equivalent, while the inferred resource is estimated at 6,569,000 tonnes at 0.75 g/t of gold, 1.18 g/t of silver and 0.11% of copper for a total of 202,000 ounces of gold equivalent. The following metal prices were used in the calculation of gold equivalent: US$1,240 for Au (ounce), US$16.528 for Ag (ounce) and US$6.549 Cu (kilogram).

Roger neighbours major deposits, including Northern Superior’s Croteau Est deposit immediately to the north, which hosts an NI 43-101-compliant inferred resource of 640,000 ounces of gold. Roger is also contiguous with Dore Copper Mining’s (Cygnus Metals’) Gwillim project, which is contiguous to the west.

Chibougamau has a rich mining history, with numerous past-producing mines located within a 15-km radius including the company’s Opemiska project, and Cygnus Metals’ Cedar Bay, Devlin and Corner Bay projects. The Chapais-Chibougamau region has historically produced 1.6 million tonnes of copper and about six million ounces of gold between 1953 to 2008.

The project is an advanced-stage exploration project and has gone through multiple drill campaigns totalling 58,000 metres. Additionally, underground exploration in 1988 included 1,177 metres of development, 1,433 metres of underground drilling and over 1,000 metres of chip sampling.

While more than 500,000 gold equivalent ounces have already been delineated (see attached table) at Roger, the project continues to provide significant upside given the deposit is open along strike, to the east and west, as well as depth.

Owning 100% of Roger provides the company optionality to incorporate Roger into the future development plans of Opemiska or to, conversely, develop Roger as a stand-alone project, given its strategic location, favourable geology and significant resource upside.

To maintain and exercise the option, signed Oct. 18, 2025, for the remaining 50% of the project, QC Copper will make payments as to an initial cash payment of $75,000 on the effective date. Subsequent share payments of $450,000 in shares on or before the first anniversary of the effective date; $425,000 in shares on or before the second anniversary; $375,000 in shares on or before the third anniversary; and $350,000 in shares on or before the fourth anniversary.

At closing, the vendor will also receive a 2.0% net smelter return royalty in respect of the Roger property, which includes buyback rights for QC Copper.