Acquisition Of The Yuma King Property

KELOWNA - Corcel Exploration Inc. has completed the acquisition of the issued and outstanding securities of CuQuest Resources Corp., pursuant to the terms of agreement.

In connection with the Acquisition, the Company issued an aggregate of 15,000,000 common shares in the capital of the Company (Payment Shares) pro rata to the CuQuest shareholders. The Payment Shares are subject to voluntary hold periods which restrict resale for periods of between 4 and 12 months after the closing date of the Acquisition. CuQuest holds the right to acquire a 100% interest in the Yuma King Property located in La Paz County, Arizona.