Ms. Alicia Milne reports

Q2 METALS SIGNIFICANTLY EXPANDS THE CISCO LITHIUM PROPERTY IN JAMES BAY, QUEBEC, CANADA

Q2 Metals Corp. has acquired a 100-per-cent interest in 545 mineral claims, more than tripling its mineral claim position at the Cisco lithium property, located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada.

The Cisco property now comprises a total of 767 contiguous mineral claims over 39,389 hectares, including more than 30 kilometres of strike length on the Frotet-Evans greenstone belt, which hosts the Sirmac and Moblan lithium deposits, located 130 kilometres and 180 kilometres away, respectively. The additional Cisco claims are primarily south of the original Cisco property claims, adding several kilometres of prospective greenstone rocks and providing extensive strategic sites for future development and mining infrastructure scenarios.

"We couldn't be more pleased to have acquired these additional claims," said Q2 Metals president and chief executive officer Alicia Milne. "Since acquiring Cisco, we have been able to clearly demonstrate its world-class potential for grade and scale while also focusing on key future development pathways. These additional claims provide us with a major footprint in an emerging, top lithium jurisdiction and provides us exceptional optionality for future development."

Neil McCallum, vice-president of exploration for Q2, stated: "While we eagerly await the pending release of remaining assay results from the lab, we have been focused on planning our winter 2025 exploration program. These additional claims add a tremendous amount of mineral prospectivity at Cisco as they include more of the greenstone belt that has been our focus this year and which has yielded such tremendous success. As we approach year-end, we're looking forward to further updates and a very busy 2025."

Additional Cisco claims -- acquisition terms

The additional Cisco claims were acquired pursuant to an option agreement dated Nov. 26, 2024, between Q2 Metals, 9490-1626 Quebec Inc. (CMH) and Anna-Rosa Giglio. To acquire the additional Cisco claims, the company must pay to CMH an aggregate of $2.4-million over a period of 42 months and complete $1.2-million of exploration expenditures during that time.

Upon satisfaction of the above payments and expenditures, the company will earn a 100-per-cent interest in the additional Cisco claims.

The vendors will retain a 3-per-cent gross metal return (GMR) royalty on the additional Cisco claims except the SOQUEM Inc. claims (as defined below), of which up to 2 per cent of the GMR royalty may be purchased by the company at any time prior to commercial production for $1-million on the first 1 per cent and $2-million on the next 1 per cent. The foregoing GMR royalty purchase payments may be satisfied in either cash or common shares, at the election of the company and subject to regulatory approval. Certain of the additional Cisco claims bear a 2-per-cent net smelter return (NSR) royalty in favour of SOQUEM. Upon closing, the company will assume the rights and obligations under the NSR royalty, which include the right to repurchase 1 per cent of the NSR royalty for $500,000. In addition, the company will grant the vendors a 1-per-cent GMR royalty on the SOQUEM claims. The vendors will also be paid a bonus of $2.5-million on the completion and delivery of an initial mineral resource calculation report, prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, on the additional Cisco claims demonstrating an inferred resource (or higher category) of at least 25 million tonnes grading over 1 per cent Li2O (lithium oxide). Closing of the agreement is subject to certain terms and conditions.

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 Metals.

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, that includes both its 100-per-cent-owned flagship Cisco lithium property and Mia lithium property.

The Cisco property comprises 767 claims totalling 39,389 hectares within the greater Nemaska community lands of the Eeyou Istchee territory, James Bay, Quebec, and is approximately 150 kilometres north of the town of Matagami and its rail infrastructure. The Billy Diamond Highway, which transects the property, is only 6.5 kilometres away from main mineralized zone.

Cisco 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 kilometres and 180 kilometres away, respectively.

Since May, 2024, the company has drilled a total of 6,359.7 metres over 17 holes at the Cisco lithium property. All drill holes intercepted pegmatite with visual indications of spodumene mineralization identified. Drill results include:

• 120.3 metres at 1.72 per cent Li2O (hole CS-24-010);
• 215.6 metres at 1.69 per cent Li2O (hole CS-24-018);
• 347.1 metres at 1.35 per cent Li2O (hole CS-24-021).

We seek Safe Harbor.