QuestEx Gold & Copper Ltd. announced drill and prospecting results from the Inel Gold prospect on its 100% owned, 312 square kilometre ("km"), road accessible KSP property located in British Columbia's prolific Golden Triangle district. The company's 2021 Inel drill program comprised 2,418 metres ("m") of diamond drilling in 13 drill holes. This news release includes results from the first two drill holes; subsequent results will be released as they are received and validated.

Following receipt and validation of all results, the company anticipates publication of an inaugural National Instrument ("NI") 43-101 Mineral Resource Estimate for Inel. The company's 2021 Inel drill program included 2,418 m of diamond drilling in 13 drill holes. The program was resource oriented in nature, comprising mainly infill, stepout and validation drilling to support an anticipated inaugural Mineral Resource Estimate.

Drill holes INDDH21-157 and INDDH21-158 were located on northwestern and southwestern sides of the Contemplated Inel Resource Area ("CIRA"), respectively, approximately 510 m apart. INDDH21-157 was an infill hole in an area with reduced historical drill density and INDDH21-158 was a stepout hole designed to expand the footprint of known mineralization near the southwestern margin of the CIRA. Both holes intersected rock with significant gold grades from surface.

Drill hole INDDH21-157 was designed to test for mineralization along the northwestern portion of the CIRA where there was a gap in the typically 50 m drill spacing. From surface, hole 157 intersected 24.00 m of 0.76 g/t Au (1.05 g/t gold equivalent ("AuEq ") with significant Ag and Zn mineralization), including 2.00 m of 3.94 g/t Au (4.27 g/t AuEq). At the bottom of hole INDDH21-157 there was a second significant gold intersection (235.00 – 250.30 m) with 15.30 m of 0.84 g/t Au; the hole ended in intense sericite-pyrite alteration running 1.62 g/t Au over 1.02 m. Drill hole INDDH21-158 tested the southwestern extent of the CIRA 50 m west and 105 m south of the nearest historical drill holes.

From 7.00 m depth it intersected 8.00 m of 0.71 g/t Au (0.81 g/t AuEq). INDDH21-158 also intersected highly anomalous Cu and molybdenum ("Mo") mineralization from 19.00 m to the bottom of the hole at 104.80 m (85.50 m of 0.071% Cu and 142 parts per million ("ppm") Mo, including 18 m of 0.115% Cu and 108 ppm Mo from 56.00 m). The anomalous zone is characterized by strongly quartz-sericite-pyrite altered siltstone and quartz-feldspar porphyritic monzonite dykes.

Quartz-chalcopyrite-molybdenite stockwork veining occurs with pyrite stringers throughout the interval, increasing in density within porphyry dykes. The style of mineralization identified in this interval is not typical of Inel but has been identified in some of the other westernmost holes at Inel (e.g. INDDH17-070 with 84.90 m of 0.19% Cu 0.2 g/t Au with up to 137 ppm Mo; 72.00 - 156.90 m). The western margin of Inel may represent part of a porphyry Cu-Au-Mo mineral system.

The porphyry-style mineralization has also been intersected from surface along the east side of the Camp Porphyry, an intensely sericite altered porphyry intrusion, located approximately 300 m to the west . The largely talus covered 300-400 m wide area between the west side of the Inel Gold Prospect and the Camp Porphyry represents a significant porphyry Cu-Au-Mo target, which has never been systematically tested to depth. The company's technical team is currently reviewing data from Inel, the Camp Porphyry and surrounding prospects to better evaluate the potential for a significant and relatively unexplored porphyry Cu-Au-Mo target in the area.