Tag: Q2 Metals Corp

Highlights:

• An additional two (2) drill holes for approximately 1,188.1 metres (m) were completed during the Summer 2024 Drill Campaign and reported herein.
• Drill hole CS24-022 encountered 14 spodumene-pegmatite intervals, with the widest continuous interval of 52.3 m.
• Drill hole CS24-023 encountered 15 spodumene-pegmatite intervals, with the widest continuous interval of 188.6 m.

Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the Company) is pleased to provide an update on the Summer 2024 Drill Program at the Cisco Lithium Property (the Property or the Cisco Property) located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada.

The Summer 2024 Drill Campaign at the Cisco Lithium Property has concluded with a total of five (5) drill holes for approximately 2,609.9 m completed. Since May 2024, the Company has drilled a total of 6,359.7 m over 17 holes. All drill holes intercepted pegmatite with visual indications of spodumene mineralization identified.

“To say it’s been a very productive first drill season for Q2 Metals at our Cisco Lithium Property is an understatement,” said Q2 Metals President and CEO Alicia Milne. “The property continues to deliver, and we are pleased with what we’re seeing and are eagerly awaiting the results from the now 13 drills holes that are yet to be reported.”

“We have been incredibly fortunate to be able to have built as much value in an early-stage project in four months. We have just started on the Cisco Project and look forward to receiving the assays on the holes drilled as we continue to move forward with Cisco,” said Q2 Metals VP of Exploration Neil McCallum.

The Summer 2024 Drill Campaign was focused on exploring the connection of the wide, continuous pegmatite zones that were encountered in holes CS24-010, CS24-018 and CS24-021. The last two holes of the season continued to confirm and expand the understanding of the main pegmatite zone.

The geological team has completed the core cutting and logging of the last two (2) drill holes (CS24-022 to 023) of the Summer 2024 Campaign 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. The visual results of drill holes CS24-022 and CS24-023 are herein reported.

Summer 2024 Drilling Update

Drill hole CS24-022 was drilled on the same line as hole CS24-018 and collared 200 metres behind it, encountering 14 individual spodumene pegmatite intervals. Nine (9) intervals were greater than 10 m wide, with the widest individual interval measuring 52.3 m.

CS24-023 was drilled at the same collar location as hole CS24-020 in order to test the southern strike direction of the main large continuous pegmatite zone. Drill hole CS24-023 encountered 15 individual spodumene pegmatite intervals of which eight (8) intervals were greater than 10 m wide, with the widest individual interval measuring 188.6 m.

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.

About the Cisco Property
The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares in size. It is located less than 10 km east of the Billy Diamond Highway, and is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay. The Property lies within the greater Nemaska Community lands of the Eeyou Istchee Territory, James Bay, Quebec.

The Property 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.

Sampling, Analytical Methods and QA/QC Protocols
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.

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

About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.

The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result that included 120.3 metres at 1.72% lithium oxide (hole CS-23-010).

FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2metals.com
Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

Jason McBride
Corporate Communications
Jason@Q2metals.com

WWW.Q2Metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

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 Property and inferences made therefrom, the potential scale of the Cisco Property, 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.

Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the  Company ) announces that, as a result of a technical review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify its technical disclosure as it pertains to the news release issued on August 19, 2024.

The Company previously reported the cumulative grades of drill holes CS-24-007 to CS-24-010 at the Company’s Cisco Property over ‘cumulative intervals’ and ‘cumulative metres.’ This disclosure has been removed from the August 19, 2024 news release as well as all previously issued news releases that reported cumulative intervals and/or cumulative metres.

As such, the highlights of the Company’s inaugural drilling campaign at the Cisco Property included:

• CS-24-010: Widest interval of 120.3 m at 1.72% Li 2 O including 19.0 m at 2.06% Li 2 O
• CS-24-007: Widest interval of 27.1 m at 1.96% Li 2 O including 11.1 m at 2.49% Li 2 O
• CS-24-008: Widest interval of 19.3m at 1.75% Li 2 O including 6.2 m at 2.23% Li 2 O
• CS-24-009: Widest interval of 82.1m at 1.43% Li 2 O including 15.7 m at 1.88% Li 2 O

The analytical results reported represent the first 1,017 m of drilling over four (4) holes of the 3,753 m that were drilled over 12 holes at the Cisco Property. Initial visual results of those four holes were reported by the Company on June 17, 2024.

The Spring 2024 Drill Campaign was designed to expand upon the 2023 drilling by the Property vendors. Hole CS-23-05 (“Hole 5”) drilled by the Property vendor ended in pegmatite and assays results confirmed its widest interval of 48.0 m at 1.23% Li 2 O including 9.0 m at 1.73% Li 2 O.

Holes CS-24-009 and 010 (“Hole 10”) were designed as 50 m westward step-outs from Hole 5. Assay results from these two holes confirmed wide intervals of spodumene pegmatite, with the widest interval reaching 120.3 m at 1.72% Li 2 O, including 19.0 m at 2.06% Li 2 O in Hole 10.

Complete highlighted intervals from holes CS-24-007 to 010 are summarized in Table 1 and represented in Figure 1. All intervals of greater than two (2) metres of core-length are included in the table. Internal dilution of non-pegmatite material was limited to intervals of less than five (5) metres. No specific grade cap or lower cut-offs were used during grade and width calculations. All intervals are reported as core widths and mineralized intervals in all the holes drilled thus far are not representative of the true width as the modelled pegmatite zones are being refined with every additional hole.

Figure 1. Map of Inaugural Drill Hole Analytical Results at Cisco Property

Table 1. Summary of Analytical Results of Spring Drill Holes at Cisco Property

Table 2. Summary of Drill Hole Collar Information, Cisco Property

Results from approximately 2,700 m of drilling eight (8) holes (CS-24-011 to CS-24-018) remain to be reported from the Spring 2024 Drill Campaign and will be released as soon as results are available. Drilling at the Cisco Property is ongoing and will continue into the fall of 2024.

About the Cisco Property
The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares in size. It is located less than 10 kilometres (“km”) east of the Billy Diamond Highway, and is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay. The Property lies within the greater Nemaska Community lands of the Eeyou Istchee Territory, James Bay, Quebec.

The Property 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.

Sampling, Analytical Methods and QA/QC Protocols
As per the BCSC technical review, information required by sections 3.2 and 3.3 of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) that was inadvertently omitted has also been updated.

All drill core samples were 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 was multiplied by the standard conversion factor of 2.153 which results in an equivalent Li 2 O 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.

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

About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.

The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result that included 48 metres at 1.36% lithium oxide (hole CS-23-05).

FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Corporate Communications
Jason@Q2metals.com

Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

WWW.Q2Metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

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 Property and inferences made therefrom, the potential scale of the Cisco Property, 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.

Highlights:

• Strong analytical results from the inaugural drilling campaign for Q2 Metals including:
  • CS-24-010: Cumulatively 181.1 metres (“m”) at 1.67% Li2O
    • Widest interval of 120.3 m at 1.72% Li2O including 19.0 m at 2.06% Li2O
  • CS-24-007: Cumulatively 94.6 m at 1.52% Li2O
    • Widest interval of 27.1 m at 1.96% Li2O including 11.1 m at 2.49% Li2O
  • CS-24-008: Cumulatively 27.0 m at 1.63% Li2O
    • Widest interval of 19.3m at 1.75% Li2O including 6.2 m at 2.23% Li2O
  • CS-24-009: Cumulatively 115.9 m at 1.48% Li2O
    • Widest interval of 82.1m at 1.43% Li2O including 15.7 ma t 1.88% Li2O

Q2 Metals Corp. (TSX.V:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the Company) is pleased to report on the first core assay results from drill holes CS-24-007 to CS-24-010 from the Spring 2024 Drill Campaign at the Cisco Lithium Property (the Property or the Cisco Property) located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada.

“These first four holes of our inaugural drill program at Cisco have exceeded our expectations with higher grades within some of the wider intervals such as Hole 10,” said Q2 Metals VP of Exploration, Neil McCallum. “We look forward to releasing more analytical results in the coming weeks as they become available.”

“Between closing our financing earlier this month and the work we’ve done in the field, 2024 has been an exceptional year for Q2 Metals so far,” said Q2 Metals President and CEO, Alicia Milne. “We have just begun our work at the Cisco Property, and having only completed 12 drill holes, these initial results are exceptionally promising.”

The analytical results reported herein represent the first 1,017 m of drilling over four (4) holes of the 3,753 m that were drilled over 12 holes at the Cisco Property. Initial visual results of those four holes were reported by the Company on June 17, 2024.

The Spring 2024 Drill Campaign was designed to expand upon the 2023 drilling by the Property vendors. Hole CS-23-05 (“Hole 5”) drilled by the Property vendor ended in pegmatite and assays results confirmed a total of 115.4 m at 1.40% Li2O, cumulatively within five (5) separate pegmatite intervals. Holes CS-24-009 and 010 (“Hole 10”) were designed as 50 m westward step-outs from Hole 5. Assay results from these two holes confirmed wide intervals of spodumene pegmatite, with the widest interval reaching 120.3 m at 1.72% Li2O, including 19.0 m at 2.06% Li2O in Hole 10.

Complete highlighted intervals from holes CS-24-007 to 010 are summarized in Table 1 and represented in Figure 1. All intervals of greater than two (2) metres of core-length are included in the table. Internal dilution of non-pegmatite material was limited to intervals of less than five (5) metres. No specific grade cap or lower cut-offs were used during grade and width calculations. All intervals are reported as core widths and mineralized intervals in all the holes drilled thus far are not representative of the true width as the modelled pegmatite zones are being refined with every additional hole.

Figure 1. Map of Inaugural Drill Hole Analytical Results at Cisco Property

Table 1. Summary of Analytical Results of Spring Drill Holes at Cisco Property

Results from approximately 2,700 m of drilling eight (8) holes (CS-24-011 to CS-24-018) remain to be reported from the Spring 2024 Drill Campaign and will be released as soon as results are available. Drilling at the Cisco Property is ongoing and will continue into the fall of 2024.

About the Cisco Property
The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares in size. It is located less than 10 kilometres (“km”) east of the Billy Diamond Highway, and is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay. The Property lies within the greater Nemaska Community lands of the Eeyou Istchee Territory, James Bay, Quebec.

The Property 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.

Sampling, Analytical Methods and QA/QC Protocols
All drill core samples were 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).

A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the sampling program.

Qualified Person
Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical information in this news release. Mr. McCallum is a director and VP Exploration for Q2.

About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.

The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result of 115.4 metres at 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Corporate Communications
Jason@Q2metals.com
Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

WWW.Q2Metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

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 Property and inferences made therefrom, the potential scale of the Cisco Property, 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.

Highlights:

• Four (4) additional drill holes for approximately 1,520.6 metres (m) have been completed at the Cisco discovery area (CO1 Zone) and the CO3 Zone, located 750 m south-west. Holes 17 and 18 are testing the CO4 and CO8 Zones, located south-east of the CO3 Zone.
• Drill hole CS24-018 encountered 12 spodumene-pegmatite intervals for a total cumulative width of 363.4 m, including one continuous interval of 215.6 m, the longest interval announced by the Company to date.
• Drill hole CS24-015 encountered six (6) individual spodumene pegmatite intervals, for a total cumulative width of 49.9 m.
• Drill hole CS24-016 encountered three (3) spodumene pegmatite intervals, for a total cumulative width of 23.7 m.
• Drill hole CS24-017 encountered 22 spodumene pegmatite intervals for a total cumulative width of 195.9 m.
• Ground mapping and sampling has also confirmed the discovery of eight (8) additional spodumene-mineralized outcrop zones at surface in the area of interest which measures 1.9 by 1.5 kilometres (km).

Q2 Metals Corp. (TSX.V:QTWO)(OTCQB:QUEXF)(FSE:458) (“Q2” or the “Company“) is pleased to provide an update from its 2024 exploration program at the Cisco Lithium Property (the “Property” or the “Cisco Property“) located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada.

Since the last update on July 3, 2024, four additional drill holes (CS24-015 to 018) have been completed for approximately 1,520.6 m, targeting the extension of the CO1 outcrop area towards CO3 and beyond.

Alicia Milne, Q2 Metals President and CEO stated, “Our inaugural drill program at the Cisco Property is going exceptionally well and we’re excited about the mineralized pegmatite we continue to intersect. With the continued support of our shareholders, we are well funded and are looking forward to reporting on our assay results when they are received.”

“The scale of the 215.6 metres of continuous pegmatite recovered in hole-18 has far exceeded our expectations and has confirmed our belief that the Cisco Property is potentially a world-class discovery,” said Neil McCallum, Q2 Metals VP of Exploration. “We have really only just started, having drill tested about 10-percent of our total area of interest based on the surface work and we plan to continue to build scale by drilling in a systematic manner to understand the dimensions of what we have uncovered.”

Spring 2024 Drilling and Sampling Campaign Update

A total strike length of 750 m of spodumene-mineralized pegmatite has now been defined by drilling and remains open in all directions. Holes 17 and 18 were designed to test the CO4 and CO8 zones, which are south-east of the CO3 Zone. Hole-18 has defined the width of the mineralized spodumene-pegmatite to 600 m (Figure 1).

Figure 1. Map of Drilling area, Cisco Property

Drill hole CS24-015 encountered six (6) individual spodumene pegmatite intervals, for a total cumulative width of 49.9 m. Two (2) intervals are greater than 10 m wide, with the widest individual interval measuring 18.5 m.

Drill hole CS24-016 encountered three (3) spodumene pegmatite intervals, for a total cumulative width of 23.7 m, with one (1) interval greater than 10m wide and measuring 18.5 m.

Drill hole CS24-017 encountered 22 spodumene pegmatite intervals for a total cumulative width of 195.9 m. Six (6) intervals are greater than 10 m wide, with the widest individual interval measuring 35.0 m.

Drill hole CS24-018 encountered 12 spodumene-pegmatite intervals for a total cumulative width of 363.4 m. Eight (8) intervals are greater than 10 m wide with the widest individual interval measuring 215.6 m (Figure 2), with many sections of coarse-grained spodumene within the wide interval (Figure 3). The drill hole ended at a hole-depth of 506.7 m within a spodumene-pegmatite interval. Due to the angle of the hole, the vertical depth of hole 18 is approximately 320 m from surface.

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.

Table 1. Summary of Spodumene-Pegmatite intervals, Cisco Property

Figure 2. Spodumene-pegmatite between 202.5 and 381 m, Hole CS24-018, Cisco PropertyFigure 3. Close up photo of spodumene-mineralized cut coreat approximately 338 m in hole CS24-018, Cisco Property

Table 2. Summary of Drill Hole Collar Information, Cisco Property (CS24-015 to 018)

Ground sampling and mapping conducted by field crews has also discovered eight (8) new mineralized outcrops within the area of interest for a total of 23 total spodumene pegmatite zones now discovered on the Property. The area of interest has now been expanded to a 1.9 km by 1.5 km area. Figure 4 details the area of interest including the confirmed analytical results at the previously known outcrop areas (CO1 to CO15, as announced July 8, 2024), as well as the new, and yet to be analyzed, samples at these additional outcrop areas (CO16 to CO23).

Figure 4. Map of mineralized area, zones CO1 to CO23, Cisco Property

The Spring 2024 Drill Campaign is now considered complete. The Company commenced its 2024 drill program at the Cisco Property (the “Spring 2024 Drill Campaign”) in late May, with the primary objective of confirming and expanding upon the mineralized zone where the Property vendors worked in 2023 (the “CO1 Zone”). A total of 12 holes were drilled for 3,752.8 m.

As previously announced (see June 17 and July 3, 2024 news releases), the Company encountered wide intervals of spodumene-pegmatite including:

• Drill hole CS24-010 encountered five (5) spodumene-mineralized intervals, for a total cumulative width of 194.8 m, with the widest individual interval measuring 86.6 m.
• Drill hole CS24-011 encountered six (6) spodumene pegmatite intervals, for a total cumulative width of 125.1 m, with the widest individual interval measuring 68.2 m.

Analytical results for the drill holes completed will be released as soon as they are available.

The Company is well funded, having recently completed a financing, raising a total of $6.88 million (see August 9, 2024 news release). The Summer-Fall Drill Campaign will focus on:

• Exploring the possibility of the connection of the wide, continuous pegmatite zones encountered in holes CS24-018 and CS24-010, located approximately 300 m apart; and
• Continuing to drill the large (1.9 by 1.5 km) surface mineralized area in a systematic grid-like manner with wide (200 m spacing) hole spacing, with infill drilling in areas with better results.

About the Cisco Property

The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares in size. It is located less than 10 km east of the Billy Diamond Highway, and is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay. The Property lies within the greater Nemaska Community lands of the Eeyou Istchee Territory, James Bay, Quebec.

The Property 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.

Qualified Person

Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical information in this news release. Mr. McCallum is a director and the VP Exploration for Q2.

About Q2 Metals Corp

Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.

The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result of 115.4 metres of 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Corporate Communications
Jason@Q2metals.com

Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

WWW.Q2Metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

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 Property and inferences made therefrom, the potential scale of the Cisco Property, 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.

Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the Company ) is pleased to announce an update to the terms of the non-brokered private placement of units of the Company as announced on July 10, 2024 (the Offering).

The charity flow-through unit portion of the Offering has been updated to reflect an increase in the price of the units being offered from $0.4625 to $0.475 per unit. As such, the charity flow-through unit portion is now comprised of up to 10,526,315 units of Q2 at a price of $0.475 per unit (the “Charity Units”) for gross proceeds of up to $5,000,000.

All other Offering terms remain the same, with total gross proceeds now being up to $7,505,000.

Closing of the Offering on the terms, as amended, is subject to certain customary conditions, is expected to occur on or about July 31, 2024, and is subject to receipt of acceptance by the TSX Venture Exchange. All securities issued with respect to the Offering will be subject to a hold period of four months and one day in accordance with applicable securities laws or the Exchange Hold Period under the policies of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities issuable pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws

About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.

The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result of 115.4 metres of 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.

The Company’s exploration advancement at its 8,668-hectare flagship Mia lithium property is focused on the more than 10-kilometre-long Mia trend which is host to both the Mia 1 and Mia 2 lithium occurrences and 11 other mineralized zones along trend.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2Metals.com

Kevin Bottomley
Director
Kevin@Q2Metals.com

Jason McBride
Corporate Communications
Jason@Q2Metals.com

Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

Follow the Company: Twitter , LinkedIn , Facebook , and Instagram

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, the Offering, 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.

Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the Company) is pleased to announce that it has arranged a non-brokered private placement of units of the Company to raise gross proceeds of up to $7,500,000 (the Offering) as follows:

• Up to 10,800,000 units of Q2 at a price of $0.4625 per unit (the “Charity Units”) for gross proceeds of up to $4,995,000. Each Charity Unit will consist of one flow-through common share of Q2 (a “FT Share”) and one half of one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one additional non-flow-through common share of Q2 at a price of $0.50 per share for a period of two years;
• Up to 1,000,000 units of Q2 at a price of $0.35 per unit (the “FT Units”) for gross proceeds of up to $350,000. Each FT Unit will consist of one FT Share and one half of one Warrant; and
• Up to 8,620,000 units of Q2 at a price of $0.25 per unit (the “NFT Units”) for gross proceeds of up to $2,155,000. Each NFT Unit will consist of one non-flow-through common share of Q2 and one half of one Warrant.

Gross proceeds from the issuance of the Charity Units and FT Units will be used to incur “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures”, as such terms are defined in the Income Tax Act (Canada) (the “Tax Act”), on Q2’s lithium projects in Quebec that the Company will renounce to the subscribers pursuant to the Tax Act with an effective date not later than December 31, 2024. Where applicable, gross proceeds from the sale of the FT Shares from purchasers in Québec will also qualify as “Canadian exploration expense” under the Taxation Act (Québec) and qualify for inclusion in the “exploration base relating to certain Québec exploration expenses” and the “exploration base relating to certain Québec surface mining exploration expenses”, under the Taxation Act (Québec). Proceeds from the sale of the NFT Units will be used for general working capital.

The Company may pay finders’ fees in accordance with the policies of the TSX Venture Exchange.

Closing of the Offering is subject to certain customary conditions, is expected to occur on or about July 31, 2024, and is subject to receipt of acceptance by the TSX Venture Exchange. All securities issued with respect to the Offering will be subject to a hold period of four months and one day in accordance with applicable securities laws or the Exchange Hold Period under the policies of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities issuable pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws

About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.

The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result of 115.4 metres of 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.

The Company’s exploration advancement at its 8,668-hectare flagship Mia lithium property is focused on the more than 10-kilometre-long Mia trend which is host to both the Mia 1 and Mia 2 lithium occurrences and 11 other mineralized zones along trend.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2Metals.com 

Kevin Bottomley
Director
Kevin@Q2Metals.com 

Jason McBride
Corporate Communications
Jason@Q2Metals.com

Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

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, the Offering, 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.

Highlights:

• 8 new spodumene-bearing pegmatite discoveries have been confirmed as mineralized, for a total of 15 spodumene pegmatite zones on the Cisco Property thus far.
• 41 samples of the CO1 to CO15 outcrop groups ranged in grade up to 4.31% Li2O,averaging 1.80% Li2O.

Q2 Metals Corp. (TSX.V:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the Company) is pleased to announce analytical results from the ongoing 2024 mapping and sampling field program at the Cisco Lithium Property (the Property or the Cisco Property). The Cisco Property is located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada, proximal to the Billy Diamond Highway and 150 kilometres (km) north of the town of Matagami and railway.

Initial field work including mapping and rock sampling was undertaken by the Company to provide guidance on the extent of the lithium mineralization at the Cisco Property. Field crews began the program at the CO1 Zone where the vendors of the Cisco Property initially sampled and drilled in 2022/2023 and have since expanded throughout the Property. To date, a total of 76 pegmatite samples collected and assayed have resulted in the confirmation of eight (8) new spodumene discoveries for a total of 15 spodumene pegmatite zones on the Cisco Property thus far.

“The sampling results have confirmed the presence of lithium in each of the 15 outcrop zones, giving us the confidence to expand our drilling in a systematic manner to the south of the recently announced holes drilled towards CO3,” said Neil McCallum, Q2 Metals VP of Exploration. “In the short amount of time that we’ve been working at Cisco, I am very encouraged by the surface and drilling results and I believe the Cisco Property is already showing signs of being an industry leading project.”

The sampling and mapping of the Cisco Property has resulted in a wide-spread group of mineralized outcrops; CO1 to CO15. The results are summarized in Table 1.

Table 1. Summary of Cisco Pegmatite Zones

The size of individual outcrops varies, from 1-2 metres (“m”) wide, up to 20 m wide. In most cases, the contacts with the bounding host-rock are not visible, being beneath till/vegetation cover. Additional work will be needed to fully understand their true surface expression and drilling is planned to test the subsurface extent of mineralization. Drill holes CS24-011 to CS24-014 (see July 3rd, 2024 press release) confirmed the continuation of mineralization between outcrop zones CO1 to CO3, and the Company is confident in continuing its drill program to the south of CO3. Surface mineralization at CO3 is characterized by 4 samples averaging 1.73% Li2O and 224ppm Ta2O5. South of CO3, lies the outcrop area CO8 characterized by 4 samples averaging 1.89% Li2O and 93ppm Ta2O5.

Figure 1. Extent of mineralized spodumene pegmatite mineralized zones at Cisco Property

Analytical results of the sampling field work has outlined a potential new area of interest located southwest of CO15, with up to 0.15% Li2O and 177ppm Ta2O5 in outcrop ( Figure 1) as well as a boulder sample located north of the CO2 reporting 0.73% Li2O. Further work will be conducted in these areas in the coming weeks to understand their significance. This brings the size of the Company’s priority area of interest to 1.1 by 3.5 km.

Many of the sampled outcrops contain anomalous geochemistry (Ta2O5 > 100ppm, Rb > 1,000ppm, Cs > 100ppm) in the absence of significant lithium and will also be a focus for follow up in the coming weeks.

Table 2. List of Analytical Results of all samples at CO1 to CO15, and other lithium enriched samples

About the Cisco Property
The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares in size. It is located less than 10 km east of the Billy Diamond Highway, and is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay. The Property lies within the greater Nemaska Community lands of the Eeyou Istchee Territory, James Bay, Quebec.

The Property 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.

Sampling, Analytical Methods and QA/QC Protocols
All rock samples collected and drill core samples were shipped to SGS Canada’s preparation facility in Val D’Or, Quebec, for standard sample preparation (code PRP92) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 500 g, and pulverize 85% passing 75 microns. The pulps will be shipped by air to SGS Canada’s laboratory in Burnaby, BC, where the samples will be homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50).

A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the sampling program.

Management cautions that prospecting surface rock samples and associated results, as discussed herein, are selective by nature and therefore may not necessarily be fully representative of the mineralized horizon sampled.

Qualified Person
Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed the technical information in this news release. Mr. McCallum is a director and VP Exploration for Q2.

About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.

The Cisco lithium property is located approximately 150 km north of Matagami, Quebec, and is comprised of 222 mineral claims totalling 11,374 hectares in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result of 115.4 metres of 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.

The Company’s exploration advancement at its 8,668-hectare flagship Mia lithium property is focused on the more than 10-kilometre-long Mia trend which is host to both the Mia 1 and Mia 2 lithium occurrences and 11 other mineralized zones along trend.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Corporate Communications
Jason@Q2metals.com

Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

WWW.Q2Metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

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, that the Cisco Property is showing signs of being an industry leading project, the potential of a new area of interest southwest of CO15 and north of CO2, 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.

Highlights:

• Four (4) additional holes for approximately 1,215 metres (m) have been drilled at the Cisco discovery zone (CO1 Zone) as drilling continues to the CO3 Zone, located 750 m southwest, confirming and extending previously encountered mineralization.
• Drill hole CS24-011 encountered six (6) individual spodumene pegmatite intervals, for a total cumulative width of 125.1 m.
• Drill hole CS24-012 encountered eight (8) spodumene pegmatite intervals, for a total cumulative width of 78.1 m.
• Drill hole CS24-013 encountered twelve (12) spodumene pegmatite intervals for a total cumulative width of 120.0 m.
• Drill hole CS24-014 encountered thirteen (13) spodumene pegmatite intervals for a total cumulative width of 131.6 m.

Q2 Metals Corp. (TSX.V:QTWO)(OTCQB:QUEXF)(FSE:458) (Q2 or the Company) is pleased to provide an update from its 2024 exploration program at the Cisco Lithium Property (the Property or the Cisco Property) located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada.

The Company commenced its 2024 drill program at the Cisco Property (the “Spring 2024 Drill Campaign”) in May, with the primary objective of confirming and expanding upon the mineralized zone where the Property vendors worked in 2023 (the “CO1 Zone”). As previously announced on June 17, 2024 the Company encountered wide intervals of spodumene-pegmatite including:

• Drill hole CS24-010 which encountered five (5) spodumene-mineralized intervals that were greater than 10 m wide.
• The sum of all spodumene-mineralized intervals in hole CS24-010 was 194.8 m, with the widest individual interval measuring 86.6 m.

Since then, four additional holes (CS24-011 to 014) have been completed for approximately 1,215 m and targeted the extension of the CO1 outcrop area towards the CO3 outcrop area. A total strike length of 750 m of spodumene mineralized pegmatite has now been defined and is open in all directions.

“Our Spring 2024 drill program has advanced extremely well in a short amount of time,” said Neil McCallum, Q2 Metals VP of Exploration. “Every hole drilled this campaign has intersected mineralized pegmatite and we are eager to continue to define and expand on the scale of Cisco and its potential to be a significant deposit.”

Spring 2024 Drill Campaign
The four drill holes reported on herein were primarily focused on expanding the previously intersected mineralization and suggest that the pegmatite body is trending roughly 45 to 60 degrees in a northeast-southwest direction. It should be noted that the mineralized intervals in all the holes drilled thus far are not representative of the true width and the modelled pegmatite zone is being refined with every additional hole.

The interpretation that mineralization continues between the outcrop zones CO1 to CO3 has been verified with the most recent four holes. The widely spaced holes have confirmed several mineralized spodumene pegmatite intervals over a strike length of at least 750 metres and is open in all directions along strike and at depth. This verification has implications for the possible continuation of mineralization between other mineralized intervals in the 1.1 by 1.7 kilometre (km) area.

The drill program will continue to test the mineralization along strike in either direction in the CO1-CO3 Zones. Following that, the Company intends on testing other zones that are mineralized at surface, including the CO2 outcrop area. The CO2 Zone is located approximately 1.2 km to the east of the CO1 Zone, with an outcrop area measuring 30 m wide by 100 m long.

Figure 1. Summary of Drilling at the CO1 to CO3 zones

Table 1. Summary of Spodumene Pegmatite intervals at CO1 to CO3 Zone, Cisco Property

Table 2. Summary of Drill Hole Collar Information, Cisco Property (CS24-011 to 014)

Figure 2. Extent of spodumene pegmatite mineralized zones at Cisco Property

About the Cisco Property
The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares in size. It is located less than 10 km east of the Billy Diamond Highway, and is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay. The Property lies within the greater Nemaska Community lands of the Eeyou Istchee Territory, James Bay, Quebec.

The Property 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.

Sampling, Analytical Methods and QA/QC Protocols
All rock samples collected and drill core samples were shipped to SGS Canada’s preparation facility in Val D’Or, Quebec, for standard sample preparation (code PRP92) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 500 g, and pulverize 85% passing 75 microns. The pulps will be shipped by air to SGS Canada’s laboratory in Burnaby, BC, where the samples will be homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50).

A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the sampling program.

Qualified Person
Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed the technical information in this news release. Mr. McCallum is a director and VP Exploration for Q2.

About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.

The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result of 115.4 metres of 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.

The Company’s exploration advancement at its 8,668-hectare flagship Mia lithium property is focused on the more than 10-kilometre-long Mia trend which is host to both the Mia 1 and Mia 2 lithium occurrences and 11 other mineralized zones along trend.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Corporate Communications
Jason@Q2metals.com

Telephone: 1 (800) 482-7560
Email: info@Q2metals.com

WWW.Q2Metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

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 Property and inferences made therefrom, the potential scale of the Cisco Property, that the pegmatite body is trending roughly 45 to 60 degrees in a northeast-southwest direction, that there is a possible continuation of mineralization between other mineralized intervals in the 1.1 x 1.7km area, 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.