Conquest Appoints New President and Chief Executive

TORONTO, Nov. 24, 2017 /CNW/ - Conquest Resources Limited (TSV-V: "CQR") ("Conquest" or "the Company") is pleased to announce the appointment of Mr. Benjamin Batson, P. Eng., P. Geo. to the position of President and Chief Executive Officer of the Company and to the Board of Directors.

Mr. Batson joined Conquest in 2009 and formerly held the office of Vice President Exploration of the Company.  He has extensive experience in mineral exploration and a broad understanding of the business of the Company.

Benjamin is a registered Professional Engineer with the Professional Engineers of Ontario (PEO) and a registered Professional Geologist with the Association of Professional Geoscientists of Ontario (APGO), l'Ordres des géologues du Quebec (OGQ), and the Professional Engineers and Geoscientists of Newfoundland and Labrador (PEGNL).  Benjamin is a graduate of Queen's University from the Department of Geological Engineering and Geological Sciences and holds a Geological Engineering degree specializing in mineral exploration.

"The Board welcomes the renewed vision, enthusiasm and leadership of our new President and Chief Executive.  Mr. Batson has an extensive knowledge of the properties held by Conquest and is keen to pursue low-cost acquisitions in the Canadian gold space to further enhance Conquest's portfolio of projects, and in so doing, transform the Company's strategic direction," commented John Kearney, Chairman of the Board of Directors.

Mr. Robert Kinloch, former President and Chief Executive has been appointed to the position of Executive Vice President and will continue to serve as a Director of Conquest.  Mr. Kinloch brings an extensive securities background to the Company, with experience in resource exploration and development throughout North America, as well as strong public company management credentials.

FUTURE PLANS

The Board is tasking the management team under renewed leadership to harness the value of the Company's existing assets through exploration, development, or joint ventures and to seek new acquisitions.  Conquest is actively assessing Ontario gold project opportunities to expand Conquest's portfolio of projects.

COMPANY OVERVIEW

Conquest Resources Ltd. was first incorporated in 1945 and is a mineral exploration company that is engaged in the exploration of mineral properties in Ontario. The Company's principal exploration target is gold.

Conquest's Alexander Property is strategically located east of the Red Lake and Campbell mines owned and operated by Goldcorp Inc. in the heart of the Red Lake Gold Camp.  Conquest's 100% owned Alexander Property is mostly surrounded by Goldcorp's land holdings.  The Alexander Property is located within the important "Mine Trend" regional structure.  Management believes that the Company holds one of the most prospective land positions in the Red Lake gold camp, outside Goldcorp.

Goldcorp's Red Lake operations are situated in the eastern part of the Red Lake Greenstone Belt.  The western boundary of Conquest's Alexander Property is located adjacent to Goldcorp's Red Lake gold mine and approximately 500 meters east of Goldcorp's Balmer Complex headframe.

Ongoing exploration success by Goldcorp at Red Lake continues to demonstrate the prospectivity of the Red Lake camp, which Conquest believes enhances potential at the Alexander Property. 

On October 25, 2017, Goldcorp announced in its Exploration Update that it had commenced a complete review study of the Red Lake belt that includes the collation, scanning, digitization and layering of more than 60 years of historical data.  Once completed, this data will be incorporated into a prospectivity analysis that will drive exploration through 2018 and beyond. Any such initiative would, by inference, include Conquest's Alexander Property. Conquest believes that a full understanding of Goldcorp's adjacent exploration activities is important to a broader understanding of the highly prospective target area that lies adjacent to Conquest's Alexander property boundary and extends into the Alexander property.

Conquest also holds a 100% interest in the Smith Lake Property which consists of six (6) patented mining claims and sixteen (16) staked mining claims in Leeson, Stover, Brackin, and Rennie Townships in northern Ontario, lying to the north, west and south of the former Renabie gold mine.

FINANCIAL STATEMENTS AND MD&A FILED

The Company has filed its unaudited Financial Statements and Management's Discussion and Analysis (MD&A) for the nine-month period ended September 30, 2017, which are available on the company's website at www.conquestresources.com and on SEDAR.

This news release may include certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest's expectations are exploration risks detailed herein and from time to time in the filings made by Conquest with securities regulators. 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 the accuracy of this release.

SOURCE Conquest Resources Ltd.