Author: Asia PEVC

Highlights:

• The 2025 Winter Program concluded with 6,997 metres (m) drilled across 14 holes.
• Drill hole CS25-028 encountered eight (8) spodumene pegmatite intervals, with the widest interval of 50.9 m of continuous spodumene pegmatite, along with additional noteworthy intercepts of 21.5 m and 19.3 m.
• Drill hole CS25-036 encountered 13 spodumene pegmatite intervals, with the widest interval of 64.3 m of continuous spodumene pegmatite, along with additional noteworthy intervals of 22.3 m, 18.1 m and 12.7 m. Hole 36 ended in pegmatite at a depth of 308.6 m due to time constraints.
• Assays are pending on all 14 drill holes completed in the 2025 Winter Program.
• The northeast-southwest strike of the main zone has increased to 1,500 m (previously 850 m at the end of 2024).

Q2 Metals Corp. (TSX.V:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the Company) is pleased to provide an update on the Winter 2025 expansion drill program (2025 Winter Program) at the Company’s Cisco Lithium Project (the Project or the Cisco Project), located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay, Quebec, Canada.

The 2025 Winter Program at the Cisco Project concluded with a total of 14 drill holes for 6,997 m of drilling completed. Of the 14 drill holes completed, 10 intercepted spodumene-bearing pegmatite. Assays are pending on all 14 drill holes, and the Company anticipates the first results to be announced in May.

“We are very encouraged by the results to date, which continue to validate the scale and potential of the Cisco Project,” said Q2 Metals President and CEO Alicia Milne. “With only 37 holes drilled for 14,644 metres to date, we’ve built a strong foundation for continued advancement. Cisco’s strategic position in the southernmost part of the Eeyou Istchee James Bay region, just 150 kilometres from rail access, gives it a distinct development advantage and further enhances the project’s long-term value. We remain well-funded, the project remains open in all directions and at depth, and we are eager to resume drilling in June.”

“The 2025 Winter Program was highly successful,” said Q2 Vice President of Exploration Neil McCallum. “During the program we nearly doubled the strike length of the main mineralized zone from 850 m to 1.5 kilometres and started to drill test other areas of interest that will require further work. On our return to the Project in June, we will continue to systematically define the known mineralized zone, starting with Hole 36 which ended due to the start of the traditional goose hunting season at 308.6 m and in spodumene pegmatite. Additional mapping and sampling of the Cisco Project will also be a priority this summer as we’ve explored less than 10 percent of our total land package, leaving a significant amount of the prospective 30-kilometre-long greenstone belt still to be tested.”

Summary of Spodumene-Bearing Pegmatite Intervals
The pegmatite intervals (greater than 2 m) of drill holes CS-25-028 to 37 are reported below in detail (Table 1 & 2):

The mineralized intervals in all the holes are not necessarily representative of the true width and the modelled pegmatite zones are being refined with every additional hole.

Cautionary Statement: The presence of pegmatites does not confirm the presence of lithium (spodumene or other lithium minerals). Pegmatites are fractionated coarse grained igneous rocks commonly associated with lithium mineralization; however, many pegmatites do not contain mineralization. The presence of any mineralization can only be confirmed with assaying.

The geological team has completed the core cutting and logging of holes CS25-028 to CS25-037 and the samples have been dispatched to the SGS Canada preparation laboratory located in Val-d’Or, QC for mineral analysis to confirm the presence of lithium.

Discussion of Drilling Results
Three holes (CS25-029, 031 and 033) targeted the southern extension of the main mineralized zone. With the 200-metre spacing, and only a few holes per section line, wide (>100 metre) pegmatite intervals were not intercepted. It is expected that the wide pegmatite intervals are present, however additional testing work is required. It is noted that the pegmatite intervals are somewhat deeper in the drill holes at the south and further work will be carried out during the summer exploration season to test the potential up-dip location of the pegmatite towards the west. In summary, the main zone remains open to the south.

Hole CS25-030 targeted the deeper portions of the northern extent of the main mineralized zone and has demonstrated that the zone is open in that direction.

Hole CS25-028 tested the eastern portion of the main mineralized zone and provided additional information in that area. Combined with the other holes drilled to the east, the zone remains open in that direction as well.

Hole CS25-036 was not completed prior to the start of this year’s goose-hunting season and ended before the intended completion depth. Despite this, the objective of the hole was accomplished with several wide pegmatite intervals intercepted that will assist in resolving the geometry of the pegmatite as well as providing guidance on definition-scale drilling. Drilling on this hole will re-commence as soon as possible after the goose-hunting season.

Drill holes CS25-032, 034, 035 and 037 were drilled to define the subsurface expression of the prominent mineralized CO2 outcrop. Additional work is needed to follow up this area as several potential orientations have not yet been tested.

Metallurgical Testing
During the 2025 Winter Program, representative samples were assembled and dispatched to SGS Canada for additional preliminary metallurgical test work, including heavy liquid separation (HLS), dense media separation (DMS), magnetic separation, and flotation.

The primary objective of the preliminary metallurgical program will be to evaluate the beneficiation of the currently defined mineralized zone at the Cisco Project with a traditional lithium pegmatite flowsheet. The goal of the proposed metallurgical work is to produce a spodumene concentrate of greater than 6% Li2O with low iron content, at a maximum lithium recovery.

Initial metallurgical testing on 16 drill core analytical pulp samples of pegmatite collected across seven (7) drill holes at the Cisco Project indicated that spodumene is the primary lithium-bearing mineral within all pegmatite samples (see news release from Q2 on February 12, 2025).

Optical Televiewer Survey Work
During the 2024 drill program conducted at the Cisco Project, optical televiewer survey work was conducted on 13 of the 17 holes drilled by the Company to confirm the pegmatite contact relationships at depth (see news release from the Company on February 3, 2025).

Following the compilation and review of the data points collected, it was determined that the orientation of the pegmatite aligns with the surface measurements, and that the drill azimuth is appropriate for this stage of the Company’s drilling campaigns. Additionally, the dip of the pegmatite varies between 25- and 80- degrees (relative to the surface), indicating that the current drill angle of -45 degrees is the most appropriate angle.

The Company continued to collect downhole televiewer data during the 2025 Winter Program. Additional drill holes from the 2024 drill program were surveyed as well as several of the holes drilled in the 2025 Winter Program (drilling at hole CS25-036 was in process). Data collected will continue to refine the Company’s most appropriate drilling approach.

Sampling, Analytical Methods and QA/QC Protocols
All drilling was conducted using diamond drill rig with NQ sized core and all drill core samples are shipped to SGS Canada’s preparation facility in Val D’Or, Quebec, for standard sample preparation (code PRP92) which includes drying at 105°C, crushing to 90% passing 2 mm, riffle split 500 g, and pulverize 85% passing 75 microns. The pulps are then shipped by air to SGS Canada’s laboratory in Burnaby, BC, where the samples are homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50). The reported Li grade will be multiplied by the standard conversion factor of 2.153 which results in an equivalent Li2O grade. Drill core was saw-cut with half-core sent for geochemical analysis and half-core remaining in the box for reference. The same side of the core was sampled to maintain representativeness.

A Quality Assurance / Quality Control (QA/QC) protocol following industry best practices was incorporated into the sampling program. Measures include the systematic insertion of quartz blanks and certified reference materials (CRMs) into sample batches at a rate of approximately 5% each. Additionally, analysis of pulp-split and reject-split duplicates was completed to assess analytical precision. The QP has verified the QA/QC results of the analytical work.

Drill Hole Collar Information
The summary of drill holes completed to date, including basic location and dip/azimuth is detailed below (Table 3):

Upcoming Events
121 Mining Investment Conference
Q2 Metals will be attending the 121 Mining Investment Conference in London, UK from May 12-13, 2025. For more information, click here.

Canaccord Genuity Global Metals & Mining Conference
The Company will be attending the Canaccord Genuity Global Metals & Mining Conference in Henderson, NV from May 20-22, 2025. For more information, click here.

THE Mining Event of the North
Q2 will be attending and exhibiting at THE Mining Event of the North in Quebec City, QC from June 3-5, 2025. For more information, click here.

About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project located within the greater Nemaska traditional territory of the Eeyou Istchee, James Bay, Quebec, Canada where drilling is currently underway.

The Cisco Project is comprised of 767 claims, totaling 39,389 hectares. The main mineralized zone is just 6.5 kilometres (“km”) away from the Billy Diamond Highway and transects the Project. The town of Matagami, which features direct rail link to much of James Bay, is approximately 150 km to the south.

Cisco has district-scale potential with an already identified mineralized zone and 2024 discovery drill results that include:

120.3 metres at 1.72% Li2O (hole CS-24-010);
215.6 metres at 1.69% Li2O (hole CS-24-018);
347.1 metres at 1.35% Li2O (hole CS-24-021); and
188.6 metres at 1.56% Li2O (hole CS-24-023)

The Cisco Project is situated along the Frotet Evans Greenstone Belt, comprised of a volcanic package dominated by mafic to felsic metavolcanic rocks, of the southern James Bay Lithium District, the same belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.

www.Q2Metals.com

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Qualified Person
Neil McCallum, B.Sc., P.Geol, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by NI 43-101 (“QP”), has reviewed and approved the technical information in this news release. Mr. McCallum is a director and the Vice President Exploration for Q2.

Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company’s properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, drilling results on the Cisco Project and inferences made therefrom, the potential scale of the Cisco Project, the focus of the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company’s expectations in connection with the projects and exploration programs being met, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedarplus.ca.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Q2 Metals Corp.