Ms. Alicia Milne reports

Q2 METALS ANNOUNCES WARRANT EXERCISE FOR $7.6 MILLION

A total of 12,808,333 share purchase warrants of Q2 Metals Corp. bearing a strike price of 60 cents per share have been exercised prior to their expiry date. The warrants were issued in connection with a private placement financing that closed on Feb. 23, 2023. Total proceeds of $7,684,999.80 were received from the exercised warrants.

"We are extremely pleased to add the cash proceeds from the exercise of these expiring warrants to Q2's strong balance sheet. Our fiscal year-end of Feb. 28 will reflect a cash position of approximately $12.3-million. Our fully funded 2025 winter drill campaign at Cisco is under way and we look forward to displaying our core and speaking with investors at a very busy PDAC next week," said Alicia Milne, president and chief executive officer of Q2 Metals.

Coming events

PDAC booth and core shack

The company will be attending and exhibiting on site at the 2025 Prospectors & Developers Association of Canada event (PDAC 2025) 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 in 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.

Cisco has district-scale potential with an already-identified mineralized zone and 2024 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).

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.

Qualified person

Neil McCallum, BSc, PGeol, a registered permit holder with the Ordre des Geologues du quebec and 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, exploration, for Q2.

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