Strategic Cooperation between the National Geological Survey of Senegal and Squatex Energy and Resources inc. / Caron Technologies International Inc.

BROSSARD, QC, Oct. 20, 2025 /CNW/ - Squatex Energy and Resources Inc. (Squatex) and Caron Technologies International Inc. (CTI) announce the signing of a strategic partnership framework agreement with the National Geological Survey of Senegal (SGNS), in collaboration with the Halles d'Innovation et de Formation Avancée (HIFA) and the University of Quebec in Rimouski (UQAR).

This three-year renewable agreement aims to strengthen scientific, technical and technological cooperation between Quebec and Senegal in the areas of geological mapping, mineral and energy exploration and the development of innovative technologies for the sustainable management of natural resources.

The signatories are committed to geoenergy innovation through a partnership focused on the transfer of know-how and sustainable technology. The agreement provides for: The establishment of training and capacity-building programs for SGNS staff; The development of digital tools and intelligent systems for geological data modeling; Technical support for the creation of certified laboratories and collaborative platforms between Quebec and Senegal; and The promotion of good environmental practices and international geological governance standards.

This agreement marks a strategic entry for Squatex Energy and Resources Inc. into West Africa, providing privileged access to an underexplored geological basin rich in oil, gas, natural hydrogen, and mineral resources. This partnership strengthens Squatex's international presence and allows it to share its expertise in exploration and geoscientific modeling.

For Caron Technologies International Inc. (CTI), the agreement represents an international showcase for its smart mapping and carbon-neutral drilling technologies. Senegal is becoming a platform for experimentation and deployment of its low-carbon modular drilling systems. This collaboration is part of a shared vision: exploration based on science, innovation, and environmental responsibility by combining Quebec's academic and industrial expertise with the field experience of Senegal's National Geological Survey. This agreement represents a major step toward sustainable technological and institutional cooperation between the two countries.

About Squatex Energy and Resources Inc. (SQX)

Squatex is a Quebec-based company specializing in geological and energy exploration, recognized for its responsible approach and its contribution to innovation in natural resource management.

About Caron Technologies International Inc. (CTI)

CTI develops advanced technologies for geological exploration and carbon-neutral mining drills. The company is distinguished by its smart mapping solutions and low-carbon modular drilling systems.

SOURCE Squatex Energy and Ressources Inc.