Mr. Robert Dickinson reports

QUARTZ MOUNTAIN UPSIZES FINANCING TO $1.71 MILLION

Further to the news release of Sept. 24, 2026, Quartz Mountain Resources Ltd. is upsizing the flow-through unit portion of the financing by up to $360,000. The company now expects to raise $1.11-million from the sale of flow-through units and $600,000 from the sale of units for aggregate proceeds of $1.71-million. The upsized financing is subject to TSX Venture Exchange acceptance and the other terms and conditions described in the Sept. 24, 2026, news release. Quartz has a current working capital position of $2.4-million before completion of the announced financing.

About Quartz Mountain Resources Ltd.

Headquartered in Vancouver, Canada, Quartz Mountain is a well-financed public company whose successful mine-finding management team is focused on discovering and advancing important-scale gold, silver and copper projects in British Columbia. The company owns 100 per cent of the Maestro gold-silver project and 100 per cent of the Jake porphyry copper-gold-silver project. Both projects are permitted by the B.C. government for drilling activities with access to infrastructure and high potential for the development of substantial resources for significant future transactions.

Quartz is associated with Hunter Dickinson Inc., a company with over 35 years of discovering, developing and transacting mineral projects in Canada and internationally. Former HDI projects in British Columbia included Mount Milligan, Kemess South and Gibraltar, all of which are porphyry copper plus or minus gold deposits that are currently producing or were formerly producing mines. Recently, Amarc Resources, an HDI associated company, with financing from Freeport McMoran Inc., announced the exciting discovery of the Tier 1 Aurora gold-copper porphyry deposit, also in British Columbia. Other projects with HDI involvement include Sisson, Duke and Prosperity in Canada, Pebble and Florence in the United States, and Xietongmen in China.

Quartz is committed to the advancement of important-scale, critical and essential mining assets while following responsible mineral development principles, including a mandate to employ best practice approaches in the engagement and involvement of local communities and meeting rigorous environmental standards.

We seek Safe Harbor.