Mr. Raymond Wladichuk reports

QI MATERIALS ACQUIRES RIVER VALLEY SILICA PROPERTY AND ANNOUNCES NEW CHAIRMAN

Quebec Innovative Materials Corp. has acquired the River Valley silica property located in the Sudbury mining division, near River Valley, Ont., Canada.

The River Valley silica property is located approximately 65 kilometres northeast (as the crow flies) from the world-class mining camp of Sudbury, Ont. It is easily accessed by existing road infrastructure. The property covers an area of approximately 47 hectares.

The property is host to a highly pure quartz vein; historical publicly available information on the quartz vein indicate that it is over 300 metres long and over 40 m wide, and comprises highly pure quartz ranging from 98 to 99.9 per cent pure SiO2 (silicon dioxide). A site visit by professional geologist Raymond Wladichuk, chief executive officer of the company, confirms that these historical reports appear to be accurate; however, detailed geological and engineering work is required to confirm these dimensions and purity grades.

"We believe that the River Valley silica property represents a significant volume of high-purity quartz, it is in an excellent jurisdiction and the geometry of the quartz vein is such that extraction should be relatively simple," stated Mr. Wladichuk, PGeo, CEO.

Details of acquisition

The property was acquired from an arm's-length vendor pursuant to the acquisition agreement, which was executed on Sept. 1, 2023. The company shall issue two million common shares at five cents per share to the vendor on the closing date as consideration for the purchase of the property. Additionally, the vendor will be granted a royalty of $2.50 per tonne on gross revenues from the sale of raw quartz or silica from the property. The consideration shares will be subject to a hold period of four months and one day following issuance.

No finders' fees or commissions are payable in connection with the acquisition of the property. Completion of the acquisition remains subject to receipt of any required regulatory approvals.

New chairman

Quebec Innovative is pleased to welcome John Karagiannidis as the new chairman of the board. Mr. Karagiannidis was born and raised in Montreal, Que., and has been involved in over 300 transactions involving emerging private and public companies with a total value in excess of $2-billion. Mr. Karagiannidis is currently a dealing representative at EMD Financial. Prior to EMD Mr. Karagiannidis worked at Marquest Capital Markets, Industrial Alliance Securities and Desjardins Securities. Mr. Karagiannidis is an MBA graduate of the Ivey Business School (University of Western Ontario), holds an LLB from the University of Montreal and is a member of the Quebec Bar Association.

Granting of options

The company has granted an aggregate of 5.5 million incentive stock options in accordance with the company's stock option plan to eligible officers, directors, employees and consultants of Quebec Innovative. The stock options have an exercise price of five cents per share for a period of two years. All options were granted pursuant to the company's 10-per-cent rolling stock option plan and are subject to the terms of the plan, the applicable grant agreement and the requirements of the Canadian Securities Exchange.

Mr. Wladichuk, PGeo (OGQ permit No. 02287, PGO licence No. 3526), the CEO of Quebec Innovative and a qualified person for National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information contained in the news release.

About high-purity quartz

Highly pure quartz (SiO2) plays a pivotal role in two critical technologies shaping the future: solar panels and lithium silicon anode batteries. In the realm of renewable energy, quartz is the raw feed source of silicon metal (Si), a fundamental component in producing high-efficiency solar panels. Beyond solar panels, silicon metal is also a promising ingredient in lithium silicon anode batteries, offering the potential for increased energy storage capacity and improved battery performance, underscoring the indispensable role of quartz in advancing sustainable energy and cutting-edge technology. Furthermore, quartz-derived silicon has gained significant strategic importance, recently earning a place on the United States' strategic mineral list.

About Quebec Innovative Materials Corp.

Quebec Innovative Materials (previously Quebec Silica Resources Corp.) is a mineral exploration and development company with a portfolio of natural resource assets including high-grade silica, hydrogen and helium properties. The company is working toward becoming a sustainable supplier of resources which are essential in advanced batteries and the electrification of the green economy. The company has a 100-per-cent interest in the Charlevoix silica project, near Clermont, Que., Canada, as well as other mineral properties in Quebec. The company also performs pilot processing on industrial minerals, refining processes to create custom products.

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