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TORONTO — Rupert Resources Ltd. (TSX: RUP) (the “Company”) today provides an update on the Prefeasibility Study (“PFS”) for its flagship Ikkari Project as well as a summary of its exploration programs as Central Lapland enters the key winter drilling season.

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Graham Crew, new Chief Executive Officer of Rupert Resources says “After two months in the role, I am more excited than ever about the opportunities at Ikkari and across our 100% owned land package. We are in the final stages of completing the PFS for Ikkari and plan to publish the report in the first quarter of 2025. Planning for the DFS will commence immediately thereafter. We are looking forward to our key winter drilling season in early 2025, during which we plan to return to Heinä South and test targets east of Ikkari identified through a new geophysical survey.”

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2024 Highlights

• Discovery of new zone with high grade potential at Heinä South (1km from Ikkari)
• Results from metallurgical test work for Ikkari confirm simplified flowsheet for project with recoveries of over 95%
• Progression of advanced engineering for PFS and subsequent DFS

2025 catalysts

• Drilling of Ikkari satellites (Q1 2025)
• Publication of PFS for Ikkari (Q1 2025)
• Submission of EIA for Ikkari in (H2 2025)

Ikkari project update

The company is in the final stages of completing its PFS for Ikkari with critical path items including mine, mill and waste facility design finished and final review underway. The study will be published in Q1 2025 with work on a Definitive Feasibility Study planned to commence shortly afterwards. The Environmental Impact Assessment (EIA) Report is planned for submission in H2 2025, with excellent progress on the EIA program over 2024.

Exploration update

The focus of the exploration team over the last few months has been the progression of a number of key targets along the main regional structure east of Ikkari (“The Rajala Line”). Previous scout drilling has confirmed the same intercalated ultramafic and sedimentary units that host the Ikkari deposit up to 15km along strike to the east. During the Autumn, a wide spaced Induced Polarization (IP) survey was undertaken to identify areas at depth that exhibit a similar structural setting to Ikkari (Figure 1). The survey has successfully outlined several locations along strike which share a similar large-scale structural setting to that at Ikkari. Given that these do not sub-crop below the glacial till they would not be expected to present a Base of Till (BoT) anomaly which has been the primary targeting tool for the other seven discoveries in Area 1. Follow-up drill testing of these settings will be prioritized in 2025. During Q1 2025 focus will also return to Heinä South where drilling intersected 25m at 16.5g/t Au in hole 124019 (see press release 3 March 2024) and 24.4m at 10.5g/t Au in hole 124061 (see press release May 1, 2024) during the previous drill campaign. The objective of the follow up drilling will be to establish a control to the high-grade mineralisation following a detailed geological review of the 2024 program.

About Rupert Resources

Rupert Resources is a gold exploration and development company listed on the Toronto Stock Exchange under the symbol “RUP”. The Company is focused on making and advancing discoveries of scale and quality with high margin and low environmental impact potential. The Company’s principal focus is Ikkari, a new high quality gold discovery in Northern Finland. Ikkari is part of the Company’s “Rupert Lapland Project,” which also includes the Pahtavaara gold mine, mill, and exploration permits.

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Cautionary Note Regarding Forward-Looking Statements

This press release contains statements which, other than statements of historical fact constitute “forward-looking statements” within the meaning of applicable securities laws, including statements with respect to: results of exploration activities and mineral resources or relating to ongoing negotiations. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company’s annual Management’s Discussion and Analysis for the year ended February 28, 2024. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company does not intend, and does not assume any obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Review by Qualified Person, Quality Control and Reports

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Craig Hartshorne, a Chartered Geologist and a Fellow of the Geological Society of London is the Qualified Persons, as defined by National Instrument 43-101, responsible for the accuracy of scientific and technical information in this news release.

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241218551922/en/

Contacts

For further information:
Graham Crew
Chief Executive Officer
gcrew@rupertresources.com

Thomas Credland
Head of Corporate Development
tcredland@rupertresources.com

Rupert Resources Ltd
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
Tel: +1 416-304-9004 Web: http://rupertresources.com/

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• ISS cites “significant premium” and “certain and immediate value” in endorsing the Arrangement
• Basis for Glass Lewis endorsement includes recognition of “considerable” negotiation process
• STEP Shareholders are encouraged to vote in advance of the proxy deadline of December 17, 2024 at 10:00 a.m. (Mountain time)
• The Canada Post service disruption may cause Canadian STEP Shareholders not to receive physical Meeting materials. STEP Shareholders who have questions or need assistance in voting should contact Laurel Hill Advisory Group by telephone at 1-877-452-7184 (North American Toll Free) or 1-416-304-0211 (Outside North America), or by email at assistance@laurelhill.com

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CALGARY, Alberta — STEP Energy Services Ltd. (“STEP” or the “Company“) is pleased to announce that both leading independent proxy advisors, Institutional Shareholder Services Inc. (“ISS“) and Glass Lewis & Co. (“Glass Lewis“), have issued recommendations that shareholders of STEP (“STEP Shareholders“) vote FOR the previously announced plan of arrangement (the “Arrangement“) with 2659160 Alberta Ltd. (the “Purchaser“) and the limited partnerships comprising ARC Energy Fund 8 (a private equity fund advised by ARC Financial Corp.) (collectively, “ARC“). Under the terms of the Arrangement, STEP Shareholders will receive $5.00 in cash for each share of STEP (the “STEP Shares“) owned, a premium of approximately 40.4% to the closing price of the STEP Shares of $3.56 on the Toronto Stock Exchange on November 1, 2024, being the last trading day prior to the execution of the arrangement agreement dated November 3, 2024 (the “Arrangement Agreement“).

In issuing its endorsement of the Arrangement to clients, ISS highlighted the “significant premium”, the fact the special committee (the “Special Committee“) of the STEP board of directors was able to negotiate an increase in the consideration from the original offer, and that the “valuation appears credible, and the offer represents the Company’s highest trading price since Feb. 1, 2023 (and is above the midpoint of the [discounted cash flow] analysis)”.

As an independent proxy advisory firm, ISS has approximately 3,400 clients including many of the world’s leading institutional investors who rely on ISS’ objective and impartial analysis to make important voting decisions. Glass Lewis’ analysis of the transaction focused on the arm’s length negotiation process undertaken by the Special Committee that yielded multiple offers from ARC and which considered the Company’s standalone prospects, and found the Arrangement to be in the interests of STEP and STEP Shareholders.

Glass Lewis is an independent proxy advisor to institutional investors, covering 30,000 shareholder meetings each year, across approximately 100 global markets. Their customers include the majority of the world’s largest pension plans, mutual funds, and asset managers who collectively manage over $40 trillion in assets.

CANADA POST SERVICE DISRUPTION

Due to the Canada Post service disruption, STEP Shareholders in Canada may not have received physical materials for the special meeting of STEP Shareholders (the “Meeting“). Whether or not you have received the physical mailing, you can still vote your STEP Shares. Materials related to the Meeting have been posted on the Company’s website at https://www.stepenergyservices.com/special-meeting and on STEP’s SEDAR+ profile at http://sedarplus.ca.

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Many STEP Shareholders can submit their vote quickly and easily over the phone with STEP’s proxy solicitation agent, Laurel Hill Advisory Group (“Laurel Hill“), and Laurel Hill can otherwise provide voting assistance and answer shareholder questions about the Arrangement. STEP Shareholders can reach Laurel Hill by telephone at 1-877-452-7184 (North American Toll Free) or 1-416-304-0211 (Outside North America), or by email at assistance@laurelhill.com.

Further, STEP Shareholders should avoid submitting their vote via mail. STEP Shareholders can vote by utilizing one of the alternative methods below:

MEETING INFORMATION

The Meeting will be held virtually on December 19, 2024 at 10:00 a.m. (Mountain time) at https://virtual-meetings.tsxtrust.com/en/1729 (Password: step2024). STEP Shareholders are encouraged to vote in advance of the Meeting.

The deadline for STEP Shareholders to submit votes by proxy is Tuesday, December 17, 2024 at 10:00 a.m. (Mountain time).

Based on proxies submitted, if the vote were to be held today it would fail based on achieving less than a majority of the minority shareholder approval. ARC has advised STEP that it does not intend to increase the consideration to be paid from $5.00 per STEP Share or support any alternative transaction to acquire STEP Shares.

SHAREHOLDER QUESTIONS AND VOTING ASSISTANCE

STEP Shareholders who have questions or need assistance in voting should contact Laurel Hill Advisory Group by telephone at 1-877-452-7184 (North American Toll Free) or 1-416- 304-0211 (Outside North America), or by email at assistance@laurelhill.com.

ABOUT STEP

STEP is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures. STEP has a high-performance, safety-focused culture and its experienced technical office and field professionals are committed to providing innovative, reliable and cost-effective solutions to its clients.

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Founded in 2011 as a specialized deep capacity coiled tubing company, STEP has grown into a North American service provider delivering completion and stimulation services to exploration and production companies in Canada and the U.S. Our Canadian services are focused in the Western Canadian Sedimentary Basin, while in the U.S., our fracturing services are focused on the Permian basin and our coiled tubing services are focused on the Permian and Eagle Ford in Texas, the Uinta Piceance, and Niobrara-DJ basins in Colorado and the Bakken in North Dakota.

Our four core values; Safety, Trust, Execution and Possibilities inspire our team of professionals to provide differentiated levels of service, with a goal of flawless execution and an unwavering focus on safety.

Forward-Looking Statements:

This news release contains “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). In some cases, forward-looking statements are identifiable by the terminology used, such as “may,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “could,” “estimate,” “continue,” or similar expressions or the negative of such expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances are considered forward-looking statements. Forward-looking statements in this news release, include, among other things, references, expressed or implied, to: statements and implications about the reasons for, and the anticipated benefits of, the Arrangement for the Company and the STEP Shareholders; the anticipated date for the holding of the Meeting; the timing and effects of the Arrangement; the solicitation of proxies by the Company; and other information or statements that relate to future events or circumstances and which do not directly and exclusively relate to historical facts.

Forward-looking statements are subject to known and unknown risks and uncertainties and other factors, some beyond the control of STEP, which could cause actual events, results, expectations, achievements or performance to differ materially. The risks and uncertainties related to the Arrangement include, but are not limited to: the possibility that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, the necessary STEP Shareholder and court approvals and other conditions to the completion of the Arrangement or for other reasons; failure to realize the expected benefits of the Arrangement; the failure to complete the Arrangement, which could negatively impact the price of the STEP Shares or otherwise affect the business of the Company; the dedication of significant resources to pursuing the Arrangement and the restrictions imposed on the Company while the Arrangement is pending; the uncertainty surrounding the Arrangement could adversely affect the Company’s retention of customers, business partners and key employees; the occurrence of a material adverse effect leading to the termination of the Arrangement Agreement; the payment of a fee by the Company to the Purchaser if the Arrangement Agreement is terminated in certain circumstances; general economic conditions; and other risks and uncertainties. The foregoing list of risks and uncertainties is not exhaustive.

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Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the date made. The forward-looking statements contained in this news release represents the Company’s expectations as of the date of this news release (or as the date they are otherwise stated to be made) and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241216937659/en/

Contacts

For further information:
Steve Glanville
President & Chief Executive Officer
Telephone: (403) 457-1772
Web: stepenergyservices.com

Shareholders:
Laurel Hill Advisory Group
North America (toll-free): 1-877-452-7184
Outside North America: 1-416-304-0211
Email: assistance@laurelhill.com.

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TORONTO — Great Quest Gold Ltd. (TSX-V: GQ) (“Great Quest” or the “Company”) provides an update to its shareholders on the progress at the Belmont prospect and announces the resignation of Dr. David Shaw from the Company’s Board of Directors.

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A combination of surface geochemistry, geophysics and geological mapping has led to the definition of 18 individual targets at the Belmont Prospect in Namibia. These targets will form the basis of a drilling campaign planned for early next year.

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Highlights

• Assays for 2,139 calcrete samples, 376 soil samples and 22 rock-chip samples have been received
• Highest rock-chip sample assayed 12.45 g/t Au
• Highest soil sample assayed 611ppb Au
• 1,543 line kilometers of drone-based Magnetic survey completed and processed
• 18 individual targets defined within the greater Belmont prospect

Surface Geochem

A total of 2,139 calcrete samples and 376 soil samples were collected as infill surface samples on a 200m x 50m grid. This sampling aimed at enhancing surface geochemical resolution across the Belmont prospect. When combined with previously assayed surface geochemical data, several robust surface anomalies were identified (see Figure 1). Additionally, 22 rock chip samples were collected from various targets to better understand the mineralization controls within the target zones. All samples were submitted to the ALS labs for gold analysis. Calcrete and soil samples underwent cyanide and aqua regia digestion, respectively, with an ICP-MS finish, while rock chip samples were analyzed using fire assay with an ICP-AES finish.

Drone Magnetic Survey

A drone-based magnetic survey covering 1,543 line-kilometers has been completed. The survey was conducted at a flight altitude of 25 meters, with a line spacing of 50 meters and a tie-line spacing of 500 meters. A DJI Matrice 350RTK drone equipped with a Geometrics MagArrow magnetometer was utilized, flying at a constant speed of 7 m/s while recording data at 1000 Hz. A Geometrics G-857 Proton Magnetometer served as the base station throughout the survey.

Data processing was carried out in the Oasis Montaj software and included diurnal corrections, line leveling, microline leveling, and heading error adjustments. Final magnetic maps were generated using various filters, including TMI, 1VD, and AS (see Figure 2). These high-resolution magnetic maps were used to delineated both macro and micro structural features, some of which are thought to have played a significant role in the mineralizing system. Additionally, several magnetic anomalies were identified that coincide with surface geochemical anomalies (see Figure 4).

As part of the survey, a high-resolution aerial image was captured across the entire prospect. The processed image, with a 4 cm pixel resolution, was used to refine geological mapping of the area.

Belmont Targets

All available exploration datasets, including surface geochemistry, geophysical maps, geological mapping, and aerial imagery, were integrated to create a comprehensive target map for the Belmont prospect. Given the prospect’s size, it was divided into smaller sub-targets, each evaluated based on its individual characteristics. This process resulted in the identification of 18 targets across the broader Belmont prospect (refer to Figure 3).

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Some previously identified targets were refined and better defined during this phase, while others were newly recognized. The target numbers do not indicate priority but were assigned sequentially as the targets were identified across multiple phases of exploration. Currently, the priority targets are BK1, BK2, and BK8.

BK1 – This high-priority target is situated in the hanging wall of the Khorixas-Gaseneirob Thrust zone and is defined by a prominent calcrete geochemical anomaly spanning 1,800 x 900 meters. The area is covered by 3 to 10 meters of calcrete, with limited trenching and RAB drilling revealing a lithological sequence of alternating chloritic schists, arkoses, and quartzites. Alteration in the form of kaolinization and carbonatization is present. Limited rock chip sampling from outcropping quartz veins within the target area returned gold grades of up to 2.5 g/t Au. High-resolution magnetic data identified a linear magnetic anomaly coinciding with part of the surface calcrete anomaly. This BK1 magnetic anomaly extends over approximately 800 meters of strike length.

BK2 – Is located approximately 2.5km to the south-west of BK1 and is interpreted to be located on a splay of the major Khorixas-Gaseneirob Thrust Zone. The majority of the target zone is covered by 1 to 8 meters of calcrete, however, weathering has allowed for some outcrop of gossanous quartz veins. The target stretches approximately 2km in length and is defined by a WNW-ESE rock chip trend that peaks at 47.0 g/t Au. Recent diamond drilling has yielded 18m at 1.72 g/t Au defined by sulphide rich quartz veins within an altered meta-arkose. This diamond hole was a step back of a previous RAB hole that intersected 6m at 6.85 g/t Au.

BK3 – This lesser target is located 1km south of BK2 and is defined by several grab samples with elevated gold, the highest being 31 g/t Au.

BK4 – The southernmost target in the Belmont area, defined by 3 grab samples with >3.9 g/t Au and elevated gold in soil values. This target lies adjacent to the Belmont Thrust in an area with sub-cropping arkosic metaquartzite beds.

BK5 – A target area of about 600 x 300m, which lies 2.3km down-strike of the BK1 target. Like BK1, this target is interpreted to be located adjacent to the major Khorixas-Gaseneirob Thrust, straddling a block of thrusted basement rocks belonging to the Huab Metamorphic Complex (interpreted from the magnetics data and confirmed by the presence of minor gneissic outcrop in a nearby riverbed). BK5 also seems to be located at the junction of a later ~E-W structure and the beforementioned Khorixas-Gaseneirob Thrust. This E-W structure seems to also correlate with the BK2 trend and might represent the down strike continuation thereof. Geochemically the target is defined by elevated gold in calcrete, peaking at 26.9 ppb Au.

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BK6 – This target lies about 600m down-strike of the BK5 target, along the Khorixas-Gaseneirob Thrust Zone. Like, BK5, it is located adjacent to thrusted basement rocks and like BK5 it also lies at the intersection of two structural trends: the SE-NW Khorixas-Gaseneirob Thrust Zone and a younger E-W fault, which is interpreted to be related to dextral rotation during the later stages of Damaran deformation. The BK6 calcrete anomaly peaks at 402.9 ppb Au.

BK7 – A minor target with elevated gold in calcrete values.

BK8 – The BK8 target is a significant gold in soil anomaly towards the western end of the Belmont area. The soil anomaly is roughly 1.6km in length and 500m in width, with a peak gold in soil value of 1.49 g/t Au. Grab samples have also returned up to 16.45 g/t Au.

BK8 is located adjacent to a large jog in the Khorixas-Gaseneirob Thrust, in a tightly folded sequence of muscovite-chlorite schist and arkosic metaquartzites of the Kuiseb Formation. The target is centred around a series of iron-oxide rich (oxidized sulphides) quartz veins, striking roughly NW-SE. Alteration in the form of iron carbonate spotting is commonly associated with the mineralized quartz veins, especially within the muscovite-chlorite schists.

A strong magnetic anomaly is also evident within the BK8 target area as well as in the folded sequence immediately to the south. Field investigations have not been able to directly identify the source of this magnetic anomaly, but widespread alteration, now visible as iron-oxide enriched muscovite-chlorite schists, might be associated.

BK9 – The westernmost target, defined by elevated gold in calcrete and up to 12.45 g/t Au in grab samples.

BK10 – A minor target along the far south-eastern extent of the Belmont prospect area. This target is underlain by a very thick calcrete cap, believed to be 20 – 40m thick, which forms party of the Ugab Calcrete Terrace.

BK11 – This target is about 1km SSE of BK1 and is defined by elevated gold in calcrete, gold in grab samples and a mag anomaly. The target also seems to occur along one of the earlier mentioned E-W faults, which are believed to be late Damaran in age.

BK12 – A gold in calcrete target with visible gold in grab samples, assaying up to 49.9g/t Au.

BK13 – A gold in calcrete anomaly of about 800m in length, with a supporting grab sample of 8g/t Au. BK13 seems to occupy the same E-W structural zone as BK7 and BK11.

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BK14 – A minor gold in calcrete target along the far south-eastern extent of the Belmont prospect area.

BK15 – This anomaly is situated towards the southern-end of the Belmont Prospect (1km south of BK2 and 3,5km south of BK1). Here calcrete cover begins to thin and minor sub cropping arkosic metaquartzite can be seen, hence the target was defined by both soil and calcrete samples. A peak calcrete value of 40ppb Au and a peak gold in soil value of 611ppb define this anomaly, alongside several supporting calcrete and soil samples.

BK16 – A minor gold in calcrete target, roughly 2km south of BK1.

Annex – The Annex target seems to represent the along strike continuation of the BK2 target. The target is structurally and lithologically similar to BK8, which lies 3.5km to the north. The only difference being that Annex lies adjacent to the Belmont Thrust, whereas BK8 is associated with the Khorixas-Gaseneirob Thrust zone. Annex is primarily defined by several mineralized grab samples (iron-oxide-rich quartz veins), including one with visible gold which assayed 41.2 g/t Au.

VG Hill – The VG Hill target is different to the other targets discussed, mainly due to the fact that it occurs in the Mulden Formation sandstones and not Kuiseb Formation schists and metaquartzites. Generally, the Mulden Fm isn’t seen as a highly prospective unit and thus the discovery of several visible-gold-bearing quartz veins, assaying up to 144 g/t Au, came as a surprise. Structurally, VG Hill occurs along a highly prospective zone, with complex folding and long-lived structures. The Khorixas-Gaseneirob Thrust forms a large jog immediately south of the target where it is covered by a thick layer of alluvium.

Thrust Zone – This target is an area of interest between the BK8 & BK1 target areas (see Figure 6). The target follows the interpreted Khorixas-Gaseneirob Thrust (KGT) zone, where it is obscured by cover and alluvium. The KGT has proven to be highly prospective in the Belmont area, with several of the primary target areas being hosted adjacent or within the thrust. Cover has however obscured several kilometers of this prospective zone and hence future work will aim to get residual samples in order to define any covered anomalies.

Future Work

The completed soil and calcrete sampling, coupled with the detailed drone-based magnetics survey, has successfully highlighted or consolidated new and existing targets. The ongoing interpretation of the magnetics data should enable the company to further refine these targets for drill testing, which is scheduled to begin in early 2025.

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Drilling will be focused on the three primary targets, BK1, BK2 and BK8, but will also include several of the secondary targets as listed in this report. Additionally, the Thrust Zone target, which straddles the interpreted Khorixas-Gaseneirob thrust where it runs beneath cover, will be tested via shallow drilling to the top of bedrock/calcrete.

Work on the K17 prospect is ongoing, with a detailed drone-based magnetics survey currently underway. The magnetics survey is aimed at identifying zonation within the broad alteration zone, specifically alteration associated with magnetite, which is known to occur in a zoned fashion proximal to mineralized zones.

“We are excited about the sampling results coming from our Belmont project”, commented Dr. Andreas Rompel, President and Chief Exploration Officer, “the number of targets and the results from the rock chip sampling encourage us immensely and we are looking forward to start the drilling campaigns on the various targets.”

Quality Assurance & Quality Control (QA/QC)

The Company has implemented a comprehensive QA/QC program in line with the E2941 − 21 Standard Practices for Extraction of Elements from Ores. Calcrete and soil samples were processed using cyanide and aqua regia digestion methods, respectively, with an ICP-MS finish. Rock chip samples were analyzed using fire assay with an ICP-AES finish. All samples were prepared at the ALS facility in Okahandja, Namibia, before being shipped to ALS Johannesburg for wet analysis and fire assay. ALS, an independent laboratory with a global presence, follows ASTM procedures for sample preparation. Rock chip and calcrete samples weighed 3 kg, were crushed, and a 250 g split was taken for pulverization (±0.5000 g). Soil samples, weighing 250 g each, were directly pulverized for analysis.

Qualified Person

The scientific and technical information in this release has been reviewed and approved by Dr. Andreas Rompel, Pr.Sci.Nat. (400274/04), FSAIMM, the Company’s “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Dr. David Shaw Steps Down from Great Quest Board of Directors

Great Quest announces the resignation of Dr. David Shaw from the Company’s Board of Directors, effective immediately. Dr. Shaw has faithfully served on the Board of Directors since December, 2010. The Company wishes to thank him for his contributions and dedicated service.

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Jed Richardson, CEO and Executive Chairman of Great Quest, commented, “We wish to thank David for his valuable insights and oversight as a director over the past 14 years and wish him a very happy retirement.”

About Great Quest

Great Quest Gold Ltd. is a Canadian mineral exploration company focused on developing high-potential gold and lithium projects in Namibia, Morocco, and Mali. The Company’s flagship asset is the Damara Gold Project in Namibia, which includes the Khorixas, Omatjete, and Outjo projects, covering over 300,000 hectares. Khorixas has yielded high-grade grab samples up to 49.9 g/t Au, while Omatjete and Outjo present significant gold and lithium opportunities. In Mali, Great Quest is advancing the Sanoukou Gold Project, a 24 km² concession in the Kayes region. Great Quest Gold Ltd. is listed on the TSX Venture Exchange under the symbol GQ and on the Frankfurt Stock Exchange under the symbol GQM.

ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST GOLD LTD.

Jed Richardson

CEO and Executive Chairman

Disclaimer for Forward-Looking Information

This news release may contain forward-looking statements. Forward-looking statements include, without limitation, the mineralization and prospectivity of the Belmont Prospect, exploration of the Omatjete target, the Company’s exploration program and the Company’s future plans. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241209403570/en/

Contacts

For more information:
Please contact Tom Panoulias by email at IR@greatquest.com

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TORONTO — dynaCERT Inc. (TSX: DYA) (OTC: DYFSF) (FRA: DMJ) (“dynaCERT” or the “Company”) is proud to announce repeat orders and new deliveries of its HydraGEN™ Technology to key customers in the oil & gas and mining sectors, signaling growing adoption and satisfaction across industries. The selected repeat orders below are meaningful in that they point to customer satisfaction and dealer progress.

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Dealer Activities and Regional Highlights

Western Canada

In Western Canada, Simple Green, a long-time dealer, had aligned with their customer in the Oil & Gas industry to expand adoption of HydraGEN™ Technology. After a successful trial of one (1) of our HG1 units in 2023, the customer placed a new order of eighteen (18) units in Q2 2024 followed by eighty-four (84) units which were delivered in Q3 2024. In November 2024 the customer placed a new order of twelve (12) additional HG1 units for Western Canada and the first of the larger HG4C units to be shipped to Texas.

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Australia

Our dealer GridFix/Net2Zero in Australia has been actively introducing our HydraGEN™ Technology to the mining sector. In October 2024 our dealer placed an order and delivered one (1) HG4C unit to a mining customer. In October 2024 they also ordered one (1) HG6C for the same customer. In November 2024 they also ordered one (1) HG1 unit to complement two (2) HG1units on generators powering a mining camp in Australia and powering a mine camp and a Rock Crusher in Australia.

Brazil and Peru

In Brazil and Peru, our key dealer H2Tek has experienced continued success in deploying HydraGEN™ Technology. After an initial pilot involving six (6) smaller HG2 units the mining customer expanded their commitment by ordering twenty-seven (27) HG1 units and seventy-five (75) HG2 units which were delivered by the Company. Installations by trained installers are proceeding in a phased rollout. Three (3) HG6C units that had been previously delivered by the Company to another client of H2Tek in Brazil are currently being installed.

Mexico and Texas

Thinking Capital, our new dealer in Mexico and Texas, has recently purchased seven (7) HG1 units. Installation training sessions were conducted by dynaCERT’s technical team with the first two (2) HG1 units installed on site.

Carbon Credit Projects

The Company is proceeding with designing multiple Carbon Credit Projects using the recently announced Verra-approved methodology which marks a significant milestone in dynaCERT’s ongoing business evolution. The Company plans to enhance avoidance of GHG emissions while providing advantages to users of dynaCERT’s HydraGEN™ Technology derived from such Carbon Credit Projects.

Leadership Perspectives and Strategic Outlook

Jim Payne, Chairman & CEO of dynaCERT, commented: “The growing demand for HydraGEN™ Technology highlights its tangible benefits to global customers. With the recent approval of our methodology by Verra and progress in launching multiple Carbon Credit Projects, we are positioned to provide even greater value. Our expanded leadership and global reach give me confidence in our continued growth.”

Strengthening Customer and Dealer Relationships

Ed Cordeiro, Director of Sales, added: “Our dealers and partners play a vital role in expanding the use of dynaCERT’s HydraGEN™ Technology across diverse industries, such as mining and oil & gas. Their dedication to customer satisfaction drives our progress. We look forward to building on these achievements in the year ahead.”

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Looking Ahead

With increasing global adoption and a robust dealer network, dynaCERT remains committed to innovation, sustainability, and delivering cutting-edge solutions to its customers. The Company’s continued focus on carbon reduction and energy efficiency positions HydraGEN™ Technology as a critical tool for industries seeking to meet their environmental goals.

About dynaCERT Inc.

dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. Website: www.dynaCERT.com.

READER ADVISORY

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, information relating to Verra, the Verra Methodology and Carbon Credits cannot be independently verified. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

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The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.

On Behalf of the Board

Murray James Payne, CEO

View source version on businesswire.com: https://www.businesswire.com/news/home/20241202840852/en/

Contacts

For more information, please contact:
Jim Payne, Chairman & CEO
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com

Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com

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