Mr. Balraj Mann reports

QMC COMPLETES PRIVATE PLACEMENT

QMC Quantum Minerals Corp. has closed its previously announced financing for gross proceeds of $330,000 through the issuance of 4.4 million units at 7.5 cents per unit. Each unit consists of one flow-through share and one non-flow-through common share purchase warrant. Each warrant will be exercisable into one additional share at a price of 12 cents for two years after the date of issuance.

Two insiders of the Company subscribed for a total of 2.1-milion units for gross proceeds of $157,500. The participation of such directors and officers in the offering constitutes a related party transaction for the purposes of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101.

All securities issued pursuant to this private placement will be subject to a four-month hold. The private placement is subject to acceptance by the TSX Venture Exchange. No finders' fees were paid for this financing.

Gross proceeds from the sale of the flow-through shares will be used to incur Canadian Exploration Expenses, as defined in the Income Tax Act (Canada), on the Company's Irgon Lithium Mine and VMS projects, and will qualify as flow-through critical mining expenditures, as defined in the tax act.

PROJECT HIGHLIGHTS:

• Historic Resource: Between 1953 and 1954, the Lithium Corporation of Canada Limited ("LCOC") reported a historical resource estimate on the Irgon Dike of 1.2 million tons grading 1.51% Li20 over a strike length of 365 metres and to a depth of 213 metres. This historical resource is documented in a 1956 Assessment Report by B. B. Bannatyne for LCOC (Manitoba Assessment Report No. 94932). This historical resource estimate is believed to be based on reasonable assumptions and both the Company and QP has no reason to contest the document's relevance and reliability.
• Existing Underground Development: During 1956/1957 a complete mining plant was installed, and since removed, on site designed to process 500 tons of ore per day and a three-compartment shaft was sunk to a depth of 74 metres. On the 61-metre level, lateral development was extended off the shaft for a total of 366 metres of drifting from which six crosscuts transected the dike.
• Excellent Historic Recoveries: Historic metallurgical tests reported an 87% recovery from which a concentrate averaging 5.9% Li2O was obtained.
• Excellent Local Infrastructure: The Irgon Property is transected by Manitoba Highway 314 with access to hydro, water, nearby rail head and is located only 20 kilometres north of the Sinomine Rare Metal Resources Group's TANCO Mine which is currently mining spodumene and producing a lithium concentrate on site.
• Pending NI 43-101 Report: A NI 43-101 technical report is nearing completion which will update the historical lithium resource to current NI 43-101 standards.

The mineral reserve cited above is presented as a historical estimate and uses historical terminology which does not conform to current NI43-101 standards. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Although the historical estimates are believed to be based on reasonable assumptions, they were calculated prior to the implementation of National Instrument 43-101. These historical estimates do not meet current standards as defined under sections 1.2 and 1.3 of NI 43- 101; consequently, the issuer is not treating the historical estimate as current mineral resources or mineral reserves.

Qualified Person and NI 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Daniel Leroux, P. Geo. who is a qualified person as defined by National Instrument 43-101.

About the Company

QMC is a British Columbia based company engaged in the business of acquisition, exploration and development of resource properties. Its objective is to locate and develop economic precious, base, rare metal resource properties of merit. The Company's properties include the Irgon Lithium Mine Project and two VMS properties, the Rocky Lake and Rocky-Namew, known collectively as the Namew Lake District Project. Currently, all of the company's properties are located in Manitoba.