QcX Gold Acquires Strategic Project Adjacent to Sterling Metals' High-Grade Copper Discovery at Batchawana Bay, Ontario

Rhea-AI Summary

QcX Gold (OTC: QCXGF, TSXV: QCX) announced on October 20, 2025 it will acquire 323 contiguous mining claims in the Batchawana Bay area, directly adjoining Sterling Metals' Soo Copper discovery with >6.6 km shared boundary. The claims sit in the Batchawana Greenstone Belt along the Mid-Continent Rift and show matching stratigraphy, historic soil anomalies and untested geophysical conductors.

Consideration: 6,000,000 shares at a deemed $0.28/share and $15,000 cash; a 3% NSR granted with an option to buy back 1.5% for $1,000,000. Transaction is subject to TSXV and regulatory approvals. A non-independent QP reviewed the geological information but did not verify historic data.

Positive

• 323 contiguous mining claims acquired
• 6.6 km shared boundary with Sterling Metals discovery
• Consideration includes 6,000,000 shares at $0.28 (deemed)
• 3% NSR with option to buy back 1.5% for $1,000,000

Negative

• Transaction subject to TSXV and regulatory approval
• Share issuance of 6,000,000 shares will cause dilution
• Geological summary reviewed by a non-independent QP who did not verify historic data
• Historic sampling and mapping on the Property remain unverified

Toronto, Ontario--(Newsfile Corp. - October 20, 2025) - QcX Gold Corp. (TSXV: QCX) (OTC Pink: QCXGF) (FSE: 21MA) ("QcX" or the "Company") is pleased to announce that it has entered into a mining claim acquisition agreement (the "Agreement") dated October 20, 2025 with an arm's-length vendor (the "Vendor"), whereby the Company will acquire several strategically located mining claim blocks (the "Property") in the Batchawana Bay area of northern Ontario.

The newly acquired Property comprises 323 individual mining claims covering a large, contiguous land package that directly adjoins Sterling Metals Corp.'s (TSXV: SAG) Soo Copper Project, where Sterling recently announced an exceptional copper discovery highlighted by 262.5 m grading 1.05% CuEq, including 68.3 m of 3.25% CuEq and 9.3 m of 19.8% CuEq from near-surface drilling (see Sterling press release dated September 29, 2025). QcX's new claims share over 6.6 kilometres of common boundary with Sterling's discovery zone, positioning the Company in the heart of one of Canada's most promising emerging copper districts (see Figure 1).

Strategic and Geological Highlights

• Prime Location: The Property is located within the Precambrian-aged Batchawana Greenstone Belt and associated metasedimentary sequences, situated along the eastern margin of the Mid-Continent Rift (MCR)-a prolific geological setting known for large porphyry-style copper systems.
• On-Trend with Historic Production: The claims lie along strike of the past-producing Tribag Mine, which historically yielded copper, molybdenum, silver, and gold.
• Strong Geological Continuity: The Property displays identical stratigraphy and structural orientation to Sterling's discovery area, supported by historic soil geochemical anomalies and untested geophysical conductors, now ready for modern exploration follow-up.
• Immediate Exploration Catalysts: QcX plans to initiate a property-wide airborne magnetic survey in the near term to delineate high-priority copper-molybdenum-silver-gold porphyry targets.
• District-Scale Potential: With 323 contiguous claims and open ground nearby, the Project provides ample room for expansion and joint-venture optionality as exploration advances.

Figure 1: Map displaying QcX Gold Corp's Batchawana Project adjacent to Sterling Metal's Soo Copper Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1791/271070_970aeef8b4b65822_001full.jpg

Transaction

As consideration for the Property, the Company will issue the Vendor an aggregate of 6,000,000 Common Shares at a deemed price of $0.28 per Common Share and will make a cash payment to the Vendor in the amount of $15,000. All securities issued pursuant to the Acquisition will be subject to a statutory hold period of four months and one day from the issuance thereof, as applicable, in accordance with applicable securities laws.

In addition, the Company has granted a 3% net smelter returns royalty (the "NSR") on the Property in favour of the Vendor, subject to the ability of the Company to purchase up to 1.5% of the NSR (resulting in the remaining NSR being reduced to 1.5%) for a purchase price of $1,000,000.

The completion of the Transaction contemplated by the Agreement remains subject to the approval of all regulatory and other approvals, including the approval of the TSX Venture Exchange.

Qualified Person

Kelly Malcolm, P.Geo. (PGO - 2864), a director of QcX and a non-independent Qualified Person ("QP") as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release. The QP has not completed sufficient work to verify the historic information on the Property, particularly with regards to historical sampling and regional government-mapped geology. However, the QP assumes that sampling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About QcX Gold

QcX Gold is exploring for gold and VMS style mineralization on its highly prospective and well-located properties in Québec, Canada. The Golden Giant Project is located in the James Bay region, only 2.9 km from Azimut Exploration Inc.'s Patwon discovery on their Elmer gold project. The Fernet Project is located in the Abitibi Greenstone Belt and is contiguous with Wallbridge Mining Company Limited's Fenelon/Martinière property. Both properties are in close proximity to major discoveries which bodes well for exploration.

On behalf of the Board of Directors:

Aaron Stone, P.Geo.
Vice President Exploration
aaron.stone@qcxgold.com
416-361-2515

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.

Forward-looking statements:

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program, the expected positive exploration results, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. 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 and accordingly, readers should not place undue reliance on forward-looking statements. 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 these forward-looking statements except as otherwise required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271070

FAQ

What exactly did QcX Gold announce on October 20, 2025 (QCXGF)?

QcX announced it will acquire 323 contiguous mining claims at Batchawana Bay, adjoining Sterling Metals' discovery, for 6,000,000 shares at $0.28 plus $15,000 cash and a 3% NSR.

How much boundary does QcX's new Batchawana Project share with Sterling Metals' discovery?

QcX's claims share over 6.6 kilometres of common boundary with Sterling Metals' discovery zone.

What are the financial terms of the QcX (QCXGF) acquisition transaction?

Consideration is 6,000,000 common shares at a deemed $0.28 per share, $15,000 cash, and a 3% NSR with an option to buy back 1.5% for $1,000,000.

Will the QcX acquisition closing affect shareholders immediately?

Not immediately; the transaction requires TSXV and regulatory approval, and issued shares will be subject to a statutory hold period of four months and one day.

What exploration work does QcX plan for the Batchawana Project after acquisition?

QcX plans to initiate a property-wide airborne magnetic survey in the near term to delineate porphyry-style copper-molybdenum-silver-gold targets.

Are the historical geological data on the Batchawana claims verified for QCXGF investors?

No; the Qualified Person is non-independent and stated they have not completed sufficient work to verify historic sampling and regional government-mapped geology.