Northquest Ltd

Northquest Ltd. was incorporated in 2008 to provide resource investors with an opportunity to invest in a company exploring for gold and other metals in Canada and other prospective geological terranes in other jurisdictions. In order to acquire the best available projects and to decrease geologic risk as much as possible, the emphasis is on selecting projects in permissive rocks and in jurisdictions and geologic terranes that have not achieved exploration maturity. In order to acquire large, prospective, exploration projects that meet those criteria, the Company’s projects may be in remote areas, such as the Canadian Arctic, or, in jurisdictions that have a certain amount of country risk.Northquest Ltd. is a Canada based mineral exploration company and its core project is the Pistol Bay gold project in southern part of Nunavut Territory, Canada. Nordgold, an internationally diversified low-cost gold producer, has been investing in the company since 2014. Nordgold has a strong balance sheet and consistent free cash flow generation, which enables to continue exploration campaigns at Pistol Bay, despite challenging gold price environment. Since its foundation in 2007, Nordgold has a proven track record of identifying and developing greenfield projects in different jurisdictions where high quality deposits can still be found. This makes Nordgold the perfect backer for Northquest at this time and guarantees continued development of the Pistol Bay project. Exploration results to date have been very encouraging and we will continue aggressive project development with full backing of Nordgold. Nordgold and Northquest firmly believe that creating sustainable value equates to being responsible stewards of the environment, complying with the highest applicable safety standards, making positive economic and social contributions to communities where they operates, and engaging openly and transparently with all stakeholders.