Mr. Aaron Stone reports

QCX GOLD IDENTIFIES 18 GOLD TARGETS ON FERNET WEST BLOCK, PROXIMAL TO THE FENELON GOLD CAMP AND CLOSES $560,000 FLOW THROUGH FINANCING

QCX Gold Corp. has identified 18 targets for gold mineralization on the west block of its Fernet project in the northwestern region of the Abitibi, Quebec. The Fernet property lies 15 kilometres (km) northwest of Wallbridge Mining's advanced Fenelon gold project and four km north of the Martiniere gold project. The targets were generated from an advanced structural and lithological analysis of the property. Data from an airborne magnetics survey flown in January, 2021, combined with existing geological data (historic drilling, outcrop mapping and known showings), were interpreted to generate key gold targets. In addition, the company wishes to report that all cores from the 17 holes drilled on Golden Giant East (GGEast) and Golden Giant West (GGWest) blocks have been logged and samples have been sent to the lab for analysis. Results are pending and will be reported once received.

Aaron Stone, vice-president exploration of QCX, stated: "We are excited by the prospects that the Fernet West block presents to us. Geophysical techniques provide us with a glimpse of the possible structures and geology that lie beneath the surface. This analysis has identified the structural complexity of the Fernet West geology and the great potential for structurally controlled gold mineralization that directly correlates with this. This was a crucial piece of work for us in our exploration strategy at Fernet and will greatly aide in guiding future work on the property."

External geophysicist, AussieCan Geoscience Inc., was engaged to conduct the study which was completed over two phases. Phase 1 consisted of a geophysical driven structural interpretation to outline important structures (faults, folds and intrusions) across the property. Phase 2 incorporated all other available datasets (historical drilling, outcrop mapping and known showings) to further define the structural outlay and develop an in-depth lithological interpretation. With this deeper geological understanding of the project, 18 gold targets were produced based on the environment they lie in (structural complexity and favourable geology). Some of the targets lie structurally along strike from known occurrences and/or deposits (the Martiniere deposit), which bodes well for exploration.

The company also wishes to announce it has closed a non-brokered private placement through the issuance of 3,733,333 flow-through (FT) units of the company at a price of 15 cents per FT unit for gross proceeds of $560,000.

Each FT unit comprises one common share in the capital of the company, issued on a flow-through basis, and one-half of one common share purchase warrant. The FT shares will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada). Each warrant entitles the holder thereof to acquire one additional common share of the company, to be issued on a non-flow-through basis, at an exercise price of 20 cents for a period of 24 months from the date of issuance.

The gross proceeds derived from the sale of the FT units under offering will be used for general exploration expenditures on the company's mineral properties located in Quebec.

In connection with the offering the company paid certain eligible persons (i) a cash commission in the aggregate of $20,999.97; and (ii) an aggregate of 139,999 broker warrants. Each broker warrant entitles the holder thereof to acquire one common share at an exercise price of 20 cents for a period of 24 months from the date of issuance.

In addition, the company will also issue an aggregate of 1.3 million options to purchase common shares of QCX Gold, exercisable at a price of 15 cents per share for a period of five years from the date of grant, to certain consultants of the company. The common shares issuable upon exercise of the options are subject to a statutory hold period of four months and one day from the original date of grant.

Qualified person

Aaron Stone, PGeo, vice-president of exploration for QCX Gold and qualified person (QP) as such term is defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the geological information reported in this news release.

About QCX Gold Corp.

QCX Gold is exploring for gold and volcanic-massive-sulphide-style mineralization on its highly prospective and well-located properties in Quebec, Canada. The Golden Giant project is located in the James Bay region of Quebec, only 2.9 km away from Azimut Exploration Inc.'s Patwon discovery on its Elmer gold project. The Fernet project is located in the Abitibi greenstone belt in Quebec and is contiguous with Wallbridge Mining Company Ltd.'s Fenelon/Martiniere property. Both properties are in close proximity to major discoveries which bodes well for exploration.

We seek Safe Harbor.