Ms. Alicia Milne reports

Q2 METALS DRILLS 347.1 M AT 1.35% LI2O INCLUDING 30 M AT 1.76% LI2O AT THE CISCO LITHIUM PROPERTY, JAMES BAY, QUEBEC, CANADA

Q2 Metals Corp. has released the core assay results on drill holes CS-24-017, CS-24-019 and CS-24-021 from the 2024 drill campaign at the Cisco lithium property, located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada. All drill holes intersected pegmatite with visual indications of spodumene mineralization identified.

Highlights:

• Three drill holes with strong analytical results from the summer drill campaign are reported herein and highlights include:
  • CS-24-021: widest interval at 347.1 metres (m) at 1.35 per cent Li2O, including seven higher-grade subintervals, including 30 m at 1.76 per cent Li2O;
  • CS-24-017: widest interval at 71.8 m at 1.01 per cent Li2O, including 13.3 m at 1.77 per cent Li2O;
  • CS-24-019: widest interval at 56.8 m at 1.06 per cent Li 2 O, including 9.1 m at 1.80 per cent Li2O;
• Core assay results for three drill holes remain to be reported.

"The results for drill hole 21 have been widely anticipated and it has delivered," said Alicia Milne, president and chief executive officer of Q2 Metals. "We still have three more drill holes to report and are in the process of planning an accelerated exploration program in 2025 to understand the true potential at the Cisco lithium property."

"The results of the continuous, greater than 300 metres [in] interval, has been yet another piece of validation to the story of Cisco, " said Neil McCallum, vice-president of exploration of the company. "We've drilled some world-class intervals already, but the development of Cisco is still in its infancy and we look forward to continuing our understanding of the project through further drilling in 2025."

The analytical results reported herein represent 1,431.1 m of drilling over three holes during the summer drill campaign, with analytical results remaining to be reported on three additional drill holes that were completed (drill holes CS-24-020, CS-24-022 and CS-24-023).

Complete highlighted intervals from holes CS-24-017, CS-24-019 and CS-24-021 are summarized in the attached table.

Drill holes CS-24-017 and CS-24-019 targeted the western portions of the wide mineralized zone. The results reveal several separate mineralized intervals, including the widest interval of 71.8 m at 1.01 per cent Li2O, including 13.3 m at 1.77 per cent Li2O in CS-24-017 and 56.8 m at 1.06 per cent Li2O, including 9.1 m at 1.80 per cent Li2O in CS-24-019 .

Drill hole CS-24-021 (hole 21) targeted the central portions of the wide mineralized zone with results of 347.1 m at 1.35 per cent Li2O, including seven higher-grade sub-intervals, including 30 m at 1.76 per cent Li2O. Hole 21 is located approximately 200 m north of hole CS-24-018, which assays reported a 215.6 m interval at 1.69 per cent Li2O, including 64.6 m at 2.29 per cent Li2O. Hole 21 is also located south of hole CS-24-010, which assays reported a 120.3 m interval of 1.72 per cent Li2O.

All intervals of greater than two m of core length are included in the table. Internal dilution of non-pegmatite material was limited to intervals of less than five m. No specific grade cap or lower cut-offs were used during grade and width calculations. All intervals are reported as core widths and mineralized intervals in all the holes drilled thus far are not representative of the true width as the modelled pegmatite zones are being refined with every additional hole. Drill hole collar information has been previously reported for each drill hole reported herein and is also available on the company's website.

Due to the quality assurance/quality control (QA/QC) protocols in place by both the company and the analytical laboratory (SGS Canada), drill hole CS-24-020 and the uppermost pegmatite interval of drill hole CS-24-021 were resubmitted for testing. Results will be reported when received and reviewed by the company.

About the Cisco property

The Cisco property comprises 222 mineral claims and is 11,374 hectares in size. It is located less than 10 kilometres east of the Billy Diamond Highway and is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay. The property lies within the greater Nemaska community lands of the Eeyou Istchee territory in James Bay in Quebec.

The property is situated along the Frotet Evans greenstone belt, comprising a volcanic package dominated by mafic to felsic metavolcanic rocks, of the southern James Bay lithium district, the same belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.

Sampling, analytical methods, and quality assurance and quality control (QA/QC) protocols

All drill core samples were shipped to SGS Canada's preparation facility in Val d'Or, Que., for standard sample preparation (code PRP92), which includes drying at 105 C, crushing to 90 per cent passing two millimetres (mm), riffle split 500 grams and pulverized 85 per cent passing 75 microns. The pulps are then shipped by air to SGS Canada's laboratory in Burnaby, B.C., where the samples are homogenized and subsequently analyzed for multielement (including lithium (Li) and tantalum( Ta)) using sodium peroxide fusion with ICP-AES/MS (inductively coupled plasma atomic emission spectroscopy/mass spectrometry) finish (code GE-ICM91A50). The reported Li grade was reported by SGS Canada as lithium oxide (Li2O). Drill core was saw cut, with one-half core sent for geochemical analysis and one-half core remaining in the box for reference. The same side of the core was sampled to maintain representativeness.

A QA/QC protocol following industry best practices was incorporated into the sampling program. Measures include the systematic insertion of quartz blanks and certified reference materials (CRMs) into sample batches at a rate of approximately 5 per cent each. Additionally, an analysis of pulp split and reject split duplicates was completed to assess analytical precision. The qualified person (QP) has verified the QA/QC results of the analytical work.

Qualified person

Neil McCallum, BSc, PGeol, is a registered permit holder with the Ordre des Geologues du Quebec and qualified person as defined by National Instrument 43-101, and has reviewed and approved the technical information in this news release. Mr. McCallum is a director and vice-president, exploration, for Q2.

Marketing engagement

The company announces that it has engaged Resource Stock Digest (RSD) for an advertising and marketing program, consisting of report creation and dissemination, commencing on Nov. 1, 2024, for a total cost of $20,000 (U.S.), payable prior to commencement of the campaign. The engagement is expected to be in place for the later of: (a) one month; and (b) the exhaustion of the $20,000 (U.S.) fee. RSD and the company deal with each other at arm's length. RSD is owned and operated by Gerardo Del Real and Nick Hodge.

About Q2 Metals Corp.

Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, which includes both its 100-per-cent-owned Mia lithium property and the Cisco lithium property.

The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 hectares in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result that included 120.3 metres at 1.72 per cent Li2O (hole CS-23-010).

We seek Safe Harbor.