Mr. Peter Tagliamonte reports

QGOLD PROVIDES UPDATE ON ACCELERATION OF WARRANTS

On April 22, 2026, Q-Gold Resources Ltd.'s share price closed at 29.5 cents, after closing at or above 25 cents for the previous 10 consecutive days. In accordance with the terms of the warrant indenture between the company and TSX Trust Company (in its capacity as the warrant agent) dated Oct. 3, 2025, pursuant to which the company issued 38,333,333 common share purchase warrants, that announcement triggered the company's voluntary expiry acceleration right in respect of the warrants.

In accordance with the acceleration right, the company elected to accelerate the expiry date of the warrants to the date that fell 30 days following the date of the news release, or May 22, 2026. All warrants that remained unexercised by 5 p.m. (Toronto time) on May 22, 2026, expired and were cancelled. Of the 32,333,334 warrants that remained unexercised as of March 31, 2026, 29,213,345 warrants were exercised in April and May, 2026, for proceeds to the company of $5,842,669; 3,116,999 warrants expired and were cancelled.

Peter Tagliamonte, chairman and chief executive officer of the company, stated: "We would like to thank our warrantholders for their support in exercising such a substantial portion of the outstanding warrants. We anticipate that the additional funds will cover all planned work expenditures on our Quartz Mountain gold project for 2026."

About Q-Gold Resources Ltd.

Q-Gold Resources is a Canadian gold development company focused on advancing high-quality gold assets in North America, led by the Quartz Mountain gold project in Oregon, United States -- a large-scale gold development project with strong economics, long-term scalability and district-scale exploration potential.

The company remains focused on disciplined project advancement, responsible resource development and long-term shareholder value creation through the development of high-quality North American gold assets.

We seek Safe Harbor.