Mr. James Newall reports

QUEST CRITICAL METALS PROVIDES UPDATE ON EXPLORATION WORK AT KLINGENTHAL/TISOVA PROJECT

Quest Critical Metals Inc. has provided an update to its shareholders on the work carried out on its Klingenthal/Tisova project that is now drill ready.

Recent work was carried out as part of the EU Horizon-funded exploration information systems (EIS) project (see news release dated Dec. 18, 2023). This included a full mineralogical characterization of the VMS (volcanogenic massive sulphide) sulphidic ore, altered host rocks and hydrothermal veins, as well as identification of three main evolution stages of ores. This was presented at the 27th ECROFY meetings (July 2 to 6, 2023, Reykjavik, Iceland).

In addition, further work has been undertaken on the interpretation of the 2018 geophysical magnetics and 3-D induced polarization survey (see news release dated Jan. 21, 2018), and its integration into both historical and new data/work. This work, in conjunction with work carried out as part of the EIS project, has further refined the drill targets. It has also provided a new horizontal section of the interpretation that clearly shows the horizontal horizons (confirmed by drilling in 2017) and the key, and untested, primary drill target.

James Newall, chief executive officer of Quest Critical Metals, commented: "As we move towards our 2024 drilling campaign at Klingenthal/Tisova it is important to update and confirm our drill targets combining the historical data with the 2018 geophysics and the work conducted more recently, including as part of the EIS project. Not only have we confirmed our initial targets, but the new horizontal section of the geophysical interpretation highlights both the undrilled VMS target and the known horizontal horizons."

Notes

History of Klingenthal/Tisova:

• Mining at Tisova was first recorded in the 13th century and, by the 16th century, there were over 2,000 workers at three underground mines producing 5 per cent copper.
• Modern-style mining commenced in 1899 with the founding of the Klingenthal-Graslitzer Copper Mining Company. Between 1900 and 1904, the Erhard-August shaft was sunk to a depth of 100 metres and a 1,813 m long crosscut was driven.
• After the First World War and the disintegration of Austria-Hungary, the Graslitz (Kraslice in Czech language) region ceded to the newly founded Czechoslovakia in 1918. The new political situation led to the closure of the mill on the Saxon side. The buildings and treatment plants of the Klingenthal-Graslitzer Copper Mining Company were demolished between 1923 and 1929.
• Czech State Mining Company Operations operated under the communist regime from 1959 to 1973.
• Records indicate the underground mine produced 560,000 tonnes of copper ore at 0.68 per cent Cu (recovered).

Information from historical work:

• Historic grab samples from waste dumps assayed as high as 0.69 per cent cobalt, 17.1 per cent copper, 3.7 grams per tonne gold and 178 g/t silver. Grab samples are possibly not indicative of the mineralization and additional sampling is required to evaluate the potential.
• Sulphide zones were illustrated as more than 100 m true thickness with higher-grade copper horizons forming lenses up to five m wide.
• Historic data from over 30 kilometres of underground workings, as well as 40 kilometres of underground and surface drilling, coupled with various studies by students and professors at Charles University (Prague), provide an excellent base for a detailed compilation.

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