Ms. Alicia Milne reports

Q2 METALS ANNOUNCES UPSIZED PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Q2 Metals Corp. has amended its agreement with Canaccord Genuity Corp., as sole agent, to increase the size of its previously announced best effort private placement to raise aggregate gross proceeds of $21-million. The offering shall consist of 21 million common shares of the company that qualify as flow-through shares (within the meaning of Subsection 66(15) of the tax act (as defined below) at a price of $1 per FT share (as defined below). The FT shares shall be composed of 20 million offered pursuant to the listed issuer financing exemption (as defined below) and one million offered by way of a private placement. In addition, the company will grant the agent an option to sell up to an additional five million LIFE FT shares at the offering price to raise additional gross proceeds of up to $5-million on the same terms and conditions as set out herein. The agent's option is exercisable in whole or in part at any time up to the closing date (as defined below).

An existing shareholder of the company has elected to exercise its participation rights to maintain its pro rata ownership in the company.

The company will use an amount equal to the gross proceeds received by the company from the sale of the FT shares, pursuant to the provisions in the Income Tax Act (Canada), to incur (or be deemed to incur) eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures (as both terms are defined in the tax act) related to the company's projects in Quebec, on or before Dec. 31, 2026, and to renounce all the qualifying expenditures in favour of the subscribers of the FT shares, effective Dec. 31, 2025. In the event the company is unable to renounce qualifying expenditures effective on or prior to Dec. 31, 2025, to the subscribers for the FT shares purchased in an aggregate amount not less than the gross proceeds raised from the issue of the FT shares and/or the qualifying expenditures, the company will indemnify each FT share subscriber for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures or as a result of the reduction, as agreed.

The offering is expected to close on or about Aug. 14, 2025, or such other date as the company and the agent may agree, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the conditional approval of the TSX Venture Exchange.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the FT shares will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions. The LIFE FT shares will be offered pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, and the securities issued thereof to Canadian resident subscribers will not be subject to a hold period pursuant to applicable Canadian securities laws. The securities issued pursuant to the non-LIFE FT shares will be subject to a four-month hold period.

There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

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, James Bay, Quebec, Canada.

The Cisco project is composed of 801 claims, totalling 41,253 hectares, with the main mineralized zone just 6.5 kilometres from the Billy Diamond Highway, which transects the project. The town of Matagami, railhead of the Canadian National Railway, is approximately 150 kilometres to the south.

The Cisco project has district-scale potential with an initial exploration target estimating a range of potential lithium mineralization and a grade of 215 million to 329 million tonnes at a grade ranging from 1.0 to 1.38 per cent lithium oxide, based only on the first 40 holes drilled to date.

Drill testing continues with mineralization open at depth and along strike with potential for significant expansion at the Cisco mineralized zone. The 2025 summer program is continuing, with rolling assay results anticipated into third quarter 2025, as the company works toward a maiden resource estimate.

Neil McCallum, BSc, PGeol, a registered permit holder with the Ordre des Geologues du Quebec, 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 the vice-president, exploration, for Q2 Metals.

We seek Safe Harbor.