Vancouver, British Columbia--(Newsfile Corp. - January 24, 2025) - Quest Critical Metals Inc (CSE: BULL) (OTC Pink: DCNNF) (FSE: DCR0) ("Quest Critical Metals" or the "Company") announces that all its exploration licences, that were due to expire in 2024, have been renewed both in the Czech Republic and in Germany. A local drilling company has been selected, and negotiations have now commenced for the Spring drilling program that will commence as soon as the weather conditions allow.
As per the Company's Press Release of December 3, 2024, the testing of the EIS software (Exploration Information Systems, EU grant funded project) identified, using AI and data analysis, a new prospective location with the licence areas. Therefore, a geochemical (soil sampling) survey will be carried out on this area by the Company and its EIS Partners at the same time as the Spring 2025 drilling program. All the costs of this geochemical work, including lab reports, will be covered by the EU grant.
Following the ongoing weakness in the lithium market, an increase in local taxes and further unexpected future costs the Company carried out a strategic review of the Brazilian exploration licences. It was felt that given the ongoing successes at Tisova/Klingenthal, particularly with the EU grant funded projects, it was best to focus all the Company's efforts in this area and therefore has relinquished the lithium licence areas.
James Newall, President and CEO, commented: "Extending our licences in both countries required us to demonstrate to the relevant authorities a clear plan and the potential of those licence areas. I am delighted to say that we achieved that and would like to thank our team in the Czech Republic and Beak Consultants for their hard work. Now we can formally engage a drilling contractor and we are very excited to soon drill the large geophysical anomaly that has been assessed to be a VMS. The EU funded geochemical program is an added bonus as it is in an untested area that has been identified as prospective by the EIS software."
Quest Critical Metals Inc.
James Newall, President and CEO
T: (604) 639-4472
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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, forward-looking information in this press release includes, but is not limited to, statements with respect to the proposed drilling plans and exploration program. 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 or 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.
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SOURCE: Quest Critical Metals Inc.
