Q2 Metals Concludes Its 2024 Winter Drill Program at the Mia Lithium Property, James Bay Territory, Quebec, Canada

Highlights: A total of 20 holes, for approximately 3,085 metres was completed during the Winter Drill Program. Drill holes MIA24-033 and 036, located in the centre of the mineralized zone, highlight the potential with aggregate lengths of spodumene-mineralized core intervals of 19.0 and 23.7 metres, respectively. Core assay results remain to be reported for 31 drill holes from the Company's inaugural drill program in the fall of 2023.

Q2 Metals Corp. (TSXV: QTWO) (OTCQB: QUEXF) (FSE: 458) (“Q2” or the “Company“) is pleased to announce it has concluded its winter 2024 drill program (“Winter Drill Program“) at its wholly owned, 8,668-ha Mia Lithium Property (the “Property“) located in the Eeyou Istchee James Bay Territory of Quebec.

“The winter drill program at the Mia Property has confirmed the spodumene mineralized pegmatite at the western end of the Mia Trend,” commented Q2 Metals VP Exploration, Neil McCallum. “The drilling has successfully evaluated a large portion of the Mia Trend that had been explored at the surface. I look forward to having our team conduct additional property-wide mapping and sampling this summer to get a greater understanding of the remainder of the Mia Property as a large portion of it has not yet seen any exploration.”

The Winter Drill Program commenced on January 18th at the west end of the more than 10-kilometre-long Mia Lithium Exploration Trend (the “Mia Trend“) which is located 22 km from the Billy Diamond Highway, proximal to major hydro-powerline and all-season road infrastructure. A total of 20 drill holes were completed on the Mia Trend for approximately 3,085 Metres (Figure 1).

The work completed at the Mia Zones 1-3 at the western end of more than 10-kilometre-long Mia Trend consisted of 11 drill holes (Tables 1 and 2, Figures 1-4). Several drill holes intersected visual spodumene-bearing pegmatite intervals. Drill holes MIA24-033 and 036, located in the centre of the mineralized zone, highlight the potential with aggregate lengths of spodumene-mineralized core intervals of 19.0 and 23.7 metres, respectively.

A total of 9 additional drill holes were completed along the remainder of the more than 10-kilometre-long Mia Trend.

The geological team has completed the processing of all 2024 drill holes, and the samples have been dispatched to the lab for analysis. The preliminary pegmatite intervals of each drill hole are reported in Table 1 and the basic location and dip/azimuth details are also included below in Table 2.

The presence of spodumene in drill core is based primarily on visual identification, and a portable LIBS (Laser Induced Breakdown Spectroscopy) analyzer was used to confirm the presence of lithium, which strongly suggests the presence of spodumene. There are drill holes that have intersected pegmatite without visual identification of spodumene however, analytical results will ultimately confirm the presence of lithium mineralization.

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Figure 1. Property-Scale Summary Map

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Figure 2. Summary Map of Drilling at the MIA 1,2 &3 zones

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Figure 3. Summary Map of Drilling Along the Mia Trend (MIA 5-7)

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Figure 4. Summary Map of Drilling Along the Mia Trend (MIA 8,9, CARTE)

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Table 1. 2024 Pegmatite Interval Summary

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Table 2. Summary of 2024 Winter Drill Holes

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Fall 2023 Drill Program – Assay Update

A Quality Assurance / Quality Control (“QA/QC”) protocol that follows industry best practices was incorporated into each of the fall and winter drill programs. Due to QA/QC concerns with the analytical laboratory, the Company is awaiting receipt of assay results for the 31 drill holes completed during the fall 2023 drill program. Results will be reported as soon as they are available.

Future Field Work at Mia Lithium Property

The Company is planning to conduct a property-wide mapping and sampling program to expand upon the shortened 2-week ground mapping field program that was conducted in 2023. A particular focus will be to understand the mineralization potential along the Bruce and Lady trends and the possibility of extending the Mia Trend.

Q2 Metals to Attend 2024 PDAC Convention

Q2 Metals is pleased to announce its participation in the 2024 PDAC Convention in Toronto, Canada. PDAC event and booth details:

Event: PDAC 2024
Date: March 3 – 6, 2024
Location: Investors Exchange, Metro Toronto Convention Centre, Toronto, Canada
Booth Number: 3148

Qualified Person

Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed the technical information in this news release. Mr. McCallum is a director and VP Exploration of Q2.

About Q2 Metals Corp

Q2 Metals Corp. is a Canadian mineral exploration company currently advancing exploration at the more than 10-kilometre-long Mia Trend on its 8,668-ha flagship Mia Lithium Property in the Eeyou Istchee James Bay Territory of Quebec, Canada which is host to both the MIA 1 and MIA 2 lithium occurrences as well as 11 confirmed mineralized zones. The Company also owns the Stellar Lithium Property with 77 claims totaling 3,972-ha, located approximately six kilometres north of its Mia Lithium Property.

Q2 also holds the highly prospective Big Hill and Titan gold projects covering approximately 110 km² in the Talgai Goldfields of the broader Warwick-Texas District of Queensland, Australia. The Big Hill Gold Project is host to 54 high-grade historical gold mines.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Corporate Communications
Jason@Q2metals.com

Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com
Website: www.Q2Metals.com
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Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. Forward-Looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company’s properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-Looking statements are based on a number of material factors and assumptions.

Forward-Looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward-Looking statements in this news release include, but are not limited to, the focus of the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company’s expectations in connection with the projects and exploration programs being met, , the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedarplus.ca.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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