Mr. Norman Champigny reports

QUEBEC PRECIOUS METALS INTERSECTS MINERALIZED ZONE AT LA POINTE EXTENSION

Quebec Precious Metals Corp.'s recently announced drilling program at the La Pointe extension gold deposit has intersected the predicted mineralized zone (press release of Nov. 23, 2023). The deposit is located on the corporation's 100-per-cent-owned Sakami project in the Eeyou Istchee James Bay territory of Quebec. The drilling program was designed to test the higher-grade portion of the La Pointe extension deposit that could be amenable to open-pit mining.

The program totalled 732 metres in two holes. Both holes intersected strongly silicified paragneiss that characterizes the mineralized zone with the presence of disseminated arsenopyrite and pyrite. Hole PT-23-196 and hole PT-23-197 showed downhole mineralize lengths of 32.5 m and 18 m, respectively. These mineralized lengths are consistent with the nearby holes drilled since the discovery of the deposit made in 2020. Assay results are expected to be available early next year.

Normand Champigny, Qubec Precious's chief executive officer, stated: "As predicted, we have intersected the mineralized zone in between the richest portions of the La Pointe extension deposit. This is very encouraging and suggests a significant increase of the mineralized volume."

The drilling program was supervised by GeoVector Management Inc. and the drilling was performed by Forage Val d'Or.

In connection with the company's press release dated Nov. 7, 2023, the corporation clarifies that the 194,625 common shares issued in settlement of debts of three current directors of Quebec Precious have an expiry date of the hold period of April 13, 2024.

Qualified person

Mr. Champigny, Eng, chief executive officer of the corporation and qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has prepared and reviewed the content of this press release.

About Quebec Precious Metals Corp.

Quebec Precious is primarily focused on advancing its Sakami gold project, located in Eeyou Istchee James Bay territory in Quebec, near Newmont Corp.'s Eleonore gold mine. In addition, the corporation holds a 68-per-cent interest in the Kipawa/Zeus rare earths project located near Temiscaming, Que. This is the only rare earths project in North America which has a fully completed feasibility study.