Mr. Peter Tagliamonte reports

QGOLD COMPLETES FIRST MILESTONE PAYMENT FOR QUARTZ MOUNTAIN GOLD PROJECT THROUGH SHARE ISSUANCE

Q-Gold Resources Ltd. has satisfied its first annual milestone payment obligation to Alamos Gold Inc. under the share exchange agreement (SEA) dated March 31, 2025, as amended, relating to the acquisition of the Quartz Mountain gold project.

The first milestone payment was satisfied through the issuance of 22,859,861 common shares of the company, in accordance with the terms of the SEA and Alamos's election to receive the payment in common shares.

The payment shares were issued at a deemed price of 19.37 Canadian cents per share, based on the 10-day volume-weighted average trading price of the company's common shares on the TSX Venture Exchange immediately preceding the issuance date, representing an aggregate value of approximately $4,427,955 (Canadian) ($3.15-million (U.S.)). Alamos now holds an aggregate of 36,784,563 common shares of the company, or 16.96-per-cent ownership of the outstanding common shares of the company.

Management commentary

"We are pleased with Alamos's continued support of Q-Gold and the Quartz Mountain gold project. Their ongoing participation as a shareholder reflects our continued relationship as we advance this significant gold development opportunity in Oregon. Our focus remains on executing a disciplined and systematic development strategy, advancing the technical, engineering and permitting programs necessary to move Quartz Mountain toward production while creating sustainable, long-term value for our shareholders," said Peter Tagliamonte, PEng, MBA, chairman and chief executive officer.

The payment shares are subject to a four-month statutory hold period expiring on Feb. 23, 2027, and were issued within the share issuance limits established under the SEA.

Q-Gold continues to advance the Quartz Mountain gold project in south-central Oregon and will provide further updates on project development activities and future milestone obligations under the SEA, as appropriate.

Early warning report by Alamos Gold

An early warning report in respect of the payment shares will be filed in accordance with applicable securities laws and will be available on Q-Gold's SEDAR+ profile. To obtain a copy of the early warning report, once filed, please contact Alamos at 141 Bay St., Suite 4800, CIBC Square, Toronto, Ont., M5J 0G3, attention: Scott K. Parsons, 416-368-9932 (extension 5439).

About Q-Gold Resources Ltd.

Q-Gold Resources is a Canadian gold development and exploration company focused on advancing high-quality gold assets in North America.

The company's flagship asset is the Quartz Mountain gold project in Oregon, United States, a large-scale gold development project with attractive preliminary economics, significant exploration potential and opportunities for future resource growth.

Q-Gold is committed to disciplined project advancement, responsible resource development and the creation of long-term shareholder value through the development and exploration of its North American gold assets.

We seek Safe Harbor.