Mr. Raymond Wladichuk reports

QI MATERIALS ANNOUNCES 2024 STRATEGY AND FINALIZES RIGHT OF FIRST REFUSAL AGREEMENT WITH HPQ SILICON INC.

Quebec Innovative Materials Corp. (QI Materials) has entered into a right of first refusal (ROFR) agreement with HPQ Silicon Inc., which allows HPQ the right of first refusal to purchase the first 10,000 tons of high-grade silica material extracted from a QI Materials silica project.

"This agreement shows that our strategic relationship with HPQ continues to move forward and that they (HPQ) have confidence in our projects and products. The feeling is mutual, we (Qi Materials) also believe in HPQ, which is why we have participated in their latest financing," stated Raymond Wladichuk, chief executive officer of QI Materials.

The company is pleased to announce the following plans and goals for 2024.

River Valley silica project:

• Perform mechanical stripping of the quartz vein formation;
• Perform a hybrid detailed exploration/geotechnical drill program in order to delineate a resource and design the quarry;
• Execute quarry design and production plan;
• Conduct advanced metallurgical testing on silica material;
• Commence production permitting process;
• Negotiate strategic offtake agreements.

Charlevoix silica project:

• Secure bulk sample permit for zones 1 and 2;
• Perform mechanical stripping on newly discovered zones 4, 5 and 6;
• Conduct exploration drilling on newly discovered zones 4, 5 and 6 to evaluate the size, geometry, depth and width of the quartzite formation and determine if they are continuously connected to one another;
• Negotiate strategic offtake agreements.

Additionally, a representative from a private Chinese-owned company in the solar panel manufacturing industry recently visited the company's facility in Lachute, Que. The company provided the representative with samples for analysis at their lab in Vancouver, B.C.

Qualified person

Raymond Wladichuk, PGeo (OGQ permit No. 02287), is the CEO of QI Materials and a qualified person for National Instrument 43-101, Standards for Disclosure of Mineral Projects. He has reviewed and approved the scientific and technical information contained in the news release.

Please be advised that a qualified person has not completed sufficient work to classify any mineral resources as defined by National Instrument 43-101; it is therefore uncertain if future exploration will result in the delineation of mineral resources.

About high-purity quartz

High-purity 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. (formerly Quebec Silica Resources Corp.)

QI Materials 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 that 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, the River Valley silica project near Sudbury, 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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