Mr. Peter Tagliamonte reports

QGOLD INITIATES PRELIMINARY ECONOMIC ASSESSMENT OF ITS RECENTLY ACQUIRED QUARTZ MOUNTAIN GOLD PROJECT IN OREGON FROM ALAMOS GOLD

Q-Gold Resources Ltd. has signed an agreement dated Nov. 20, 2025, with leading engineering firm Kappes, Cassiday & Associates (KCA) to initiate a preliminary economic assessment (PEA) on its flagship Quartz Mountain gold project located in Oregon, United States.

"Today's engagement of Kappes Cassiday, combined with our recently completed NI 43-101 technical report, positions QGold to unlock significant shareholder value from this strategically located asset in a proven historic mining district of Oregon, USA," commented Peter Tagliamonte, president and chief executive officer of Q-Gold. "With our recently completed financing, we anticipate an exceptionally active period ahead as we advance the Quartz Mountain gold project through critical development milestones in 2025 and 2026."

Acquired from Alamos Gold in Q3 of this year, the Quartz Mountain gold project is a promising gold development project in south-central Oregon. The initiation of the PEA (preliminary economic assessment) follows the recently published mineral resource estimate in a technical report dated effective Sept. 26, 2025, for the Quartz Mountain gold project. The highlights of the mineral resource estimate include:

• An estimated 1,543,000 ounces of gold with a grade of 0.96 gram per tonne and 2,049,000 ounces of silver with a grade of 1.27 g/t within 50,002,000 tonnes in the indicated mineral resource category;
• An additional 148,000 ounces of gold with a grade of 0.77 g/t and 135,000 ounces of silver with a grade of 0.70 g/t within 5,992,000 tonnes in the inferred mineral resource category;
• The mineral resource estimate is amenable to conventional open-pit mining methods.

The PEA now under way will provide a comprehensive evaluation of the project's economic potential, including mining methods, processing options, capital and operating costs, and projected financial returns. KCA brings decades of experience in metallurgical engineering and mine development, making them an ideal partner for this critical phase of advancement.

"With KCA, QGold is positioned to capitalize on the project's strategic advantages," added Peter Tagliamonte. "These include its favorable location, established infrastructure, solid mineral resource base and the designation of gold as a strategic asset in the USA within a strong gold market."

The results of the PEA are expected to be completed in the coming months and will serve as a foundation for future technical studies and permitting activities.

Qualified persons

The scientific and technical information contained in this news release has been reviewed and approved by Fred Brown, PGeo, an independent consultant of the company, and Dr. Andreas Rompel, PrSciNat, vice-president, exploration, and a director of Q-Gold, each a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Q-Gold Resources Ltd.

Q-Gold Resources is a publicly traded North American-based mineral exploration and development company focused on advancing gold and silver projects in mining-friendly jurisdictions across North America. The company is operated by seasoned resource professionals.

The company's shares are listed on the TSX Venture Exchange under the symbol QGR, the OTCQB market in the United States under QGLDF and the Borse Frankfurt exchange under QX9G.

Q-Gold is committed to advancing its portfolio of gold and silver assets toward production, with its primary focus on its flagship Quartz Mountain gold project in Oregon (United States) and the Mine Centre gold project in Ontario (Canada). The company focuses on resource expansion through systematic exploration, disciplined project development backed by rigorous technical work and responsible environmental stewardship in mining-friendly jurisdictions with established infrastructure.

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