Mr. Alicia Milne reports

Q2 METALS INITIAL METALLURGICAL TESTING CONFIRMS SPODUMENE AS THE PRIMARY LITHIUM-BEARING MINERAL WITHIN PEGMATITE AT THE CISCO LITHIUM PROJECT

Q2 Metals Corp. has released the results of initial metallurgical testing on drill core samples collected from the 2024 drill program on the Cisco lithium project, located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay, Quebec, Canada.

Initial mineralogical work was completed by SGS Canada on 16 drill core analytical pulp samples of pegmatite collected across seven drill holes at the Cisco project (specifically from drill holes CS23-010, CS23-017, CS23-018, CS23-019, CS23-021, CS23-022 and CS23-023). The purpose of the mineralogy work was to provide a preliminary characterization of the lithium pegmatite at Cisco and to orient the direction of subsequent mineral processing test work.

All samples were analyzed by X-ray diffraction (XRD) for quantitative modal mineralogy. The samples that were submitted had representatively low, mid and high grades, with individual samples containing lithium between 0.53 per cent and 3.8 per cent Li2O (lithium oxide).

The results of the XRD analysis indicated average spodumene content of 17 per cent within sample results, ranging between 6 per cent and 39 per cent. The remaining minerals in the samples include quartz, albite, microcline, muscovite, and occasionally biotite and/or beryl. All minerals are present in common rations compared with other pegmatites in the James Bay lithium district.

"Having spodumene as the only primary lithium-bearing mineral verified with a high-precision method like XRD is an important milestone for the Cisco project, verifying our core observations of coarse-grained spodumene," stated Neil McCallum, vice-president, exploration, of Q2. "We will be conducting further metallurgical testing of the mineralized zone at the project to understand its amenability to HLS and DMS flow sheet work."

To follow up the initial XRD analysis, samples are currently being prepared for additional metallurgical test work, including heavy liquid separation (HLS), dense media separation (DMS), magnetic separation and flotation. The primary objective of the follow-up preliminary metallurgical program is to evaluate the beneficiation of the currently defined mineralized zone at the Cisco project with a traditional lithium pegmatite flow sheet. The goal of the proposed work is to produce a spodumene concentrate of greater than 6 per cent Li2O with low iron content at a maximum lithium recovery.

Corporate update

Q2 Metals announces the addition of Simon Gaivin and Chris Ackerman to its team.

Mr. Gaivin -- community relations: Mr. Gaivin is a committed professional in regional development and stakeholder engagement with over 20 years of experience in community relations, partnership management and institutional representation. He has engaged with numerous noteworthy organizations over his career, including serving as a director of the Universite du Quebec en Abitibi-Temiscaminque (UQAT) Foundation & Alumni Association, a professional at the Regional Conference of Elected Officials of Abitibi-Temiscaminque, and a lecturer at UQAT in regional development and marketing. Mr. Gaivin holds a graduate degree in project management from UQAT.

Mr. Ackerman -- corporate communications: Mr. Ackerman is a graduate of the University of British Columbia (UBC) faculty of law and has extensive experience in both government and private industry, including 15 years in mineral exploration. Prior to joining Q2 Metals, Mr. Ackerman was a founding member and spent over eight years as vice-president, corporate development, at the Metallic Group of Companies, which includes Metallic Minerals, Stillwater Critical Minerals and Granite Creek Copper. In 2016, he took the role of senior business development adviser with the Yukon Ministry of Economic Development (a position primarily focused on promoting investment in the mining industry) and previously spent five years heading up the communications and investor relations department at Yukon-focused exploration companies.

"I'm pleased to welcome both Simon and Chris to Q2 as we continue to add and build upon the strength of our team. With Simon being from Rouyn-Noranda, Que., his understanding of local perspectives will contribute to the growth of our community initiatives," stated Alicia Milne, president and chief executive officer of Q2. "Additionally, Chris comes to us with a strong and active background in corporate strategy, capital markets, communications and investor relations. I'm looking forward to working with them as we continue to move forward with the project."

Coming events

OTC Metals and Mining Virtual Investor Conference

Ms. Milne, Q2 Metals' president and chief executive officer, and Mr. McCallum, Q2 Metals' vice-president of exploration, will present live at the Metals and Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on Feb. 12, 2025, at 8:30 a.m. PT (11:30 a.m. ET).

Date:  Wednesday, Feb. 12, 2025

Time:   8:30 a.m. PT (11:30 a.m. ET)

This will be a live, interactive on-line event where investors are invited to ask the company questions in real time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that online investors preregister and run the on-line system check to expedite participation and receive event updates.

Prospectors & Developers Association of Canada (PDAC) booth and core shack

The company will be attending and exhibiting on site at the PDAC 2025 event in Toronto, Ont.

Q2 is exhibiting in the investors exchange from March 2 to March 5, 2025, at booth No. 2726 and will also be exhibiting core from the Cisco lithium project at the PDAC 2025 core shack on March 4 to March 5, 2025.

PDAC Quebec Day -- critical and strategic mining in Quebec

Q2 Metals is honoured to have been selected to provide a corporate spotlight presentation during Quebec Day at PDAC. Ms. Milne will present at 10:25 a.m. on March 4, 2025, in Room 206D.

About Q2 Metals Corp

Q2 Metals is a Canadian mineral exploration company focused on the Cisco lithium project, located within the greater Nemaska traditional territory of the Eeyou Istchee territory, James Bay, Quebec, where drilling is currently under way.

The Cisco project comprises 767 claims, totalling 39,389 hectares. The main mineralized zone is just 6.5 kilometres away from the Billy Diamond Highway and transects the project. The town of Matagami, which features direct rail link to much of James Bay, is approximately 150 kilometres to the south.

The Cisco project 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.

The Cisco project has district-scale potential with an already-identified mineralized zone and discovery drill results that 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);
• 188.6 metres at 1.56 per cent Li2O (hole CS-24-023).

Since May, 2024, the company has drilled a total of 6,359.7 metres over 17 holes. All drill holes intercepted pegmatite with visual indications of spodumene mineralization identified.

Qualified person

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

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