Ms. Alicia Milne reports

Q2 METALS ANNOUNCES CLOSING OF C$26 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Q2 Metals Corp. has closed its previously announced upsized private placement of 26 million common shares of the company that qualify as flow-through (FT) shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) (as defined below)), at a price of $1 per FT share, for total gross proceeds of $26-million, which includes the full exercise of the agent's option for gross proceeds of $5-million.

The offering was conducted on best efforts private placement basis pursuant to an agency agreement dated Aug. 14, 2025, between Canaccord Genuity Corp., as sole agent and bookrunner, and the company. The offering consisted of the sale of 25 million FT shares sold pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, and one million FT shares, pursuant to prospectus exemptions under NI 45-106, other than the listed issuer financing exemption.

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 Income Tax Act (Canada)) related to the company's mineral 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 on or before Dec. 31, 2025.

As consideration for the agent's services, the agent received a cash commission of $1.3-million and 1.3 million non-transferable broker warrants, with each broker warrant entitling the holder thereof to purchase one common share of the company at a price of 90 cents per broker share for a period of three years from the closing date of the offering.

The offering remains subject to the final approval of the TSX Venture Exchange. The LIFE FT shares are not subject to any hold period under applicable Canadian securities laws. The non-LIFE FT shares are subject to a hold period of four months and one day from the closing date of the offering under applicable Canadian securities laws.

An offering document related to the offering can be accessed under the company's profile on SEDAR+ and on the company's website.

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 comprises 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, rail head 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 grade of 215 million to 329 million tonnes at a grade ranging from 1.0 to 1.38 per cent Li2O, based only on the first 40 holes drilled.

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 Q3 (third quarter) 2025, as the company works toward a maiden resource estimate.

We seek Safe Harbor.