Quest Critical Metals Streamlines Focus to Advance Tisova/Klingenthal Copper VMS Project

Rhea-AI Summary

Quest Critical Metals Inc. announces the strategic decision to relinquish its option to acquire 100% of the East Bull Palladium project to focus on advancing its Tisova/Klingenthal copper/cobalt VMS and Minas Gerais lithium projects. The move aims to optimize the company's portfolio and deliver optimal value for shareholders.

Vancouver, British Columbia--(Newsfile Corp. - March 20, 2024) - Quest Critical Metals Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR0) (formerly Canadian Palladium Resources Inc.) ("Quest Critical Metals" or the "Company") announces a strategic decision to optimize its portfolio by relinquishing its option to acquire 100% of the East Bull Palladium project. This move underscores the Company's commitment to concentrate resources on advancing its Tisova/Klingenthal copper/cobalt VMS and its Minas Gerais lithium projects.

James Newall, President and CEO commented: "whilst the 2018-2023 exploration campaign at East Bull was very successful the market gave us no value for the increase in resource that we delivered. After careful evaluation and consultation with both internal and external advisors, we concluded that the ongoing costs associated with the East Bull property were not justified in the current palladium market conditions. We are redirecting our focus and resources towards our promising Tisova/Klingenthal prospect, in conjunction with our Partners in the EU grant-funded Exploration Information Systems project, as we firmly believe that this will deliver optimal value for our shareholders."

Quest Critical Metals Inc.

James Newall, President and CEO

T: (604) 639-4472

Reader Advisory

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 advancing its mineral properties. 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.

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: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

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 Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202461

FAQ

What strategic decision did Quest Critical Metals Inc. announce?

Quest Critical Metals Inc. announced the decision to relinquish its option to acquire 100% of the East Bull Palladium project.

What projects will Quest Critical Metals focus on after relinquishing the East Bull Palladium project?

Quest Critical Metals will focus on advancing its Tisova/Klingenthal copper/cobalt VMS and Minas Gerais lithium projects.

Who is the President and CEO of Quest Critical Metals Inc.?

James Newall is the President and CEO of Quest Critical Metals Inc.

What was the reason behind the decision to relinquish the East Bull Palladium project?

The decision was made after evaluating that the ongoing costs associated with the East Bull property were not justified in the current palladium market conditions.

What does Quest Critical Metals believe will deliver optimal value for its shareholders?

Quest Critical Metals believes that focusing on the Tisova/Klingenthal prospect, in conjunction with their Partners in the EU grant-funded Exploration Information Systems project, will deliver optimal value for their shareholders.