Q2 Metals Intercepts 151 Metres of Continuous Spodumene Pegmatite at the Cisco Lithium Project in Quebec, Canada and Announces Option Payments on Cisco Project Properties

Rhea-AI Summary

Q2 Metals (OTCQB: QUEXF) has announced significant drilling results from its Cisco Lithium Project in Quebec, Canada. The company's 2025 Summer Drill Program has intercepted three additional spodumene intervals in hole CS-25-036, including a remarkable 151.0-metre continuous interval, along with intervals of 64.3m and 52.1m.

The project, located in the Eeyou Istchee James Bay region, is strategically positioned along the Billy Diamond Highway, just 150km north of the Canadian National Railway. The company is conducting infill drilling across a 1.5 km mineralized strike length and has initiated metallurgical testing. Additionally, Q2 has completed option payments for the Broadback, Ouagama, and Cisco claim groups, securing 100% interest in the first two property groups.

Positive

• Discovery of significant 151.0-metre continuous spodumene pegmatite interval, the best hole to date
• Strategic location with excellent infrastructure access via paved highway and proximity to railway
• Successful completion of option payments for Broadback and Ouagama claim groups, securing 100% interest
• Ongoing metallurgical testing to evaluate mineral processing potential

Negative

• Lithium content in pegmatite intervals still pending assay confirmation
• Remaining payments and exploration requirements needed for Cisco claim group
• True width of mineralized intervals not yet confirmed

Highlights

• The 2025 Summer Drill Program is underway with a focus on infill drilling of the main mineralized zone.
• The program commenced with the continuation of hole CS-25-036 which, as reported on June 10, 2025 encountered nine (9) separate intervals, the widest being 64.3 m at 1.34% Li₂O before being stopped at a depth of 315.3 m.
• Follow-up drilling on Hole 36 has intercepted three (3) additional spodumene intervals, with the widest continuous interval being 151.0 metres, along with intervals of 64.3 m and 52.1 m.
  

VANCOUVER, British Columbia, June 24, 2025 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) (“Q2” or the “Company”) is pleased to announce that drilling has commenced at the Cisco Lithium Project (the “Project” or the “Cisco Project”) located within the greater Nemaska traditional territory of Eeyou Istchee James Bay region of Quebec, Canada. The Cisco Project is transected by the paved Billy Diamond Highway and just 150 kilometres (“km”) north of the Canadian National Railway in the town of Matagami.

The primary objective of the 2025 summer drill program (“2025 Summer Program”) is infill drilling of the 1.5 km of northeast-southwest trending mineralized strike length.

The 2025 Summer Program commenced with a continuation of hole CS-25-036 (“Hole 36”), which was paused at a depth of 315.3 metres (“m”) at the end of the 2025 winter drill program. Hole 36 has now been completed to depth of 582.11 m over which it intersected an additional three (3) spodumene pegmatite intervals, with the widest continuous interval of 151.0 m.

“The first hole completed as part of the 2025 Summer Program has exceeded expectations by extending the depth of the main mineralized zone beyond what was previously known and ranks as the best hole of the Project in terms of total spodumene pegmatite intersected, to date,” said Q2 VP Exploration Neil McCallum. “Our priority now will be to tighten our drill spacing around the wide mineralized zone at Cisco as we build towards a mineral resource estimate.”

Summary of Spodumene-Bearing Pegmatite Intervals

The pegmatite intervals (greater than 2 m) of Hole 36 are reported below in detail (Table 1). The three intervals below the blue dashed line are the additional spodumene pegmatite intervals that were intersected since re-starting operations.

Table 1. Summary of Spodumene-Pegmatite Intervals, Drill Hole CS-25-036, Cisco Project

The mineralized intervals in all the holes are not necessarily representative of the true width and the modelled pegmatite zones are being refined with every additional hole.

Cautionary Statement: The presence of pegmatites does not confirm the presence of lithium (spodumene or other lithium minerals). Pegmatites are fractionated coarse grained igneous rocks commonly associated with lithium mineralization; however, many pegmatites do not contain mineralization. The presence of any mineralization can only be confirmed with assaying.

The geological team has completed the core cutting and logging of Hole 36 and the samples will be dispatched to the SGS Canada preparation laboratory located in Val-d’Or, QC for mineral analysis to confirm the presence of lithium. 

Drilling Discussion

Hole 36 has increased the depth extent of the main mineralized zone at the northern portion of the zone (Figure 1 and Figure 2).                                

Figure 1. Map of Drill hole CS25-036 at Cisco Project.

Figure 2. Cross Section B

Hole 36 collar information is detailed below, including basic location and dip/azimuth:

Table 2. Summary of Drill Hole Collar Information, Cisco Project (CS-25-036)

Ongoing Exploration Program

A detailed mapping and sampling campaign of the greater 41,253-hectare Cisco Project was initiated in late May 2025 and is ongoing. To date, 390 rock samples have been collected from the Cisco Project and analytical results are expected in the coming weeks. Several pegmatite intrusions have been sampled and although no visible spodumene was encountered, the results are expected to guide additional follow up by focusing on areas with anomalous trace-element geochemistry such as rubidium, cesium or tantalum. Potential gold mineralization from sulphide-enriched or silicified zones are also being targeted when encountered. The field work is expected to continue through the summer.

Additionally, orientation-style geophysical surveys are being conducted over a portion of the main mineralized zone. The surveys may be expanded upon if they are determined to be a suitable method of defining the known mineralization.

Initial metallurgical testing is in process by SGS Inc. on three composite samples from holes CS-24-018, 021 and 023. Dense Media Separation (DMS), Heavy Liquid Separation (HLS), magnetic separation and flotation (if necessary) methods are being explored. The objective is to evaluate the beneficiation of the defined mineralized zone at the Cisco Project with a traditional lithium pegmatite flowsheet.

Cisco Option Agreements

Pursuant to the terms of three individual option agreements (together, the “Option Agreements”) entered into by the Company on February 28, 2024 and amended on June 12, 2024 (see news release of June 13, 2024) for the acquisition of certain claim groups which comprise part of the Cisco Project, known as the Broadback, Ouagama and Cisco claim groups, the Company has made the year one anniversary payments consisting of cash and common shares, as detailed below.

Under the terms of the Option Agreement for the Broadback claim group, the Company would acquire a 100% interest in 24 mineral claims on the payment to the vendors of a total of $200,000 (paid June 12, 2024) and the issuance of 10,000,000 common shares of the Company (5,000,000 common shares issued June 12, 2024) (the “Broadback Option”). The remaining 5,000,000 common shares have now been issued to the Broadback vendors and as such, the Broadback Option has been fully and properly exercised and a 100% right, title and interest in and to the Broadback claim group has vested to the Company.

Under the terms of the Option Agreement for the Ouagama claim group, the Company would acquire a 100% interest in 77 mineral claims on the payment to the vendors of a total of $200,000 (paid June 12, 2024) and the issuance of 10,000,000 common shares of the Company (5,000,000 common shares issued June 12, 2024) (the “Ouagama Option”). The remaining 5,000,000 common shares have now been issued to the Ouagama vendors and as such, the Ouagama Option has been fully and properly exercised and a 100% right, title and interest in and to the Ouagama claim group has vested to the Company.

Under the terms of the Option Agreement for the Cisco claim group, the Company would acquire a 100% interest in 121 mineral claims on the payment to the vendor of a total of $2,000,000 (paid $1,100,000 June 12, 2024) and the issuance of 40,000,000 common shares of the Company (10,000,000 common shares issued June 12, 2024) and incur a total of $12,000,000 in exploration expenditures over a four (4) year period (the “Cisco Option”). The Company has now made the first anniversary payment of $500,000 and a partial issuance of 6,500,000 common shares to the Cisco vendor. The Cisco vendor has elected to defer the issuance of 3,500,000 common shares which comprise the remaining common shares to be issued in connection with the first anniversary payment.

The common shares issued under the Option Agreements are subject to a hold period in accordance with applicable securities laws.

Upcoming Events

Fastmarkets 17^th Lithium Supply and Battery Raw Materials Conference

Q2 will be attending the Fastmarkets 17^th Lithium Supply and Battery Raw Materials Conference in Las Vegas, Nevada from June 23-26, 2025. For more information, click here.

Qualified Person

Neil McCallum, B.Sc., P.Geol, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by NI 43-101 (“QP”) has reviewed and approved the technical information in this news release. Mr. McCallum is a director and the Vice President Exploration for Q2.

Sampling, Analytical Methods and QA/QC Protocols

All drilling is conducted using a diamond drill rig with NQ sized core and all drill core samples are shipped to SGS Canada’s preparation facility in Val D’Or, Quebec, for standard sample preparation (code PRP92) which includes drying at 105°C, crushing to 90% passing 2 mm, riffle split 500 g, and pulverize 85% passing 75 microns. The pulps are then shipped by air to SGS Canada’s laboratory in Burnaby, BC, where the samples are homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50). The reported Li grade will be multiplied by the standard conversion factor of 2.153 which results in an equivalent Li₂O grade. Drill core was saw-cut with half-core sent for geochemical analysis and half-core remaining in the box for reference. The same side of the core was sampled to maintain representativeness.

A Quality Assurance / Quality Control (QA/QC) protocol following industry best practices has been incorporated into the sampling program. Measures include the systematic insertion of quartz blanks and certified reference materials (CRMs) into sample batches at a rate of approximately 5% each. Additionally, analysis of pulp-split and reject-split duplicates was completed to assess analytical precision. The QP has verified the QA/QC results of the analytical work.

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 comprised of 801 claims, totaling 41,253 hectares, with the main mineralized zone just 6.5 km from the Billy Diamond Highway, which transects the Project. The Town of Matagami, rail head of the Canadian National Railway, is approximately 150 km to the south.

The Cisco Project has district-scale potential with an already identified mineralized zone and drill results that include:

• 120.3 metres at 1.72% Li₂O (hole CS-24-010);
• 215.6 metres at 1.69% Li₂O (hole CS-24-018);
• 347.1 metres at 1.35% Li₂O (hole CS-24-021);
• 188.6 metres at 1.56% Li₂O (hole CS-24-023); and
• 179.6 metres at 1.66% Li₂0 (hole CS-25-027) with an additional 58.0 m at 1.75% Li₂O; and 91.8 m at 1.81% Li₂O.
  

A summer drill campaign is currently underway, with rolling assay results anticipated into Q3 2025. The Company has engaged BBA Engineering to complete an “Exploration Target” on the Cisco Project, which will provide a potential range of both tonnage and grade.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne	Jason McBride	Chris Ackerman
President & CEO	Investor Relations Manager	Corporate Development
Alicia@Q2metals.com	Jason@Q2metals.com	Chris@Q2metals.com
Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

WWW.Q2Metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

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, statements with respect to the Company’s proposed summer exploration and drill programs, drilling results on the Cisco Project and inferences made therefrom, the preparation of an exploration target on the Cisco Project, the potential scale of the Cisco Project, 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, reallocation of proposed use of funds, 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.com.

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.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/9775a728-ec19-4435-8bf6-64b776513a33

https://www.globenewswire.com/NewsRoom/AttachmentNg/b8ba4b04-4bf5-4ad1-81f5-5a37db685530

https://www.globenewswire.com/NewsRoom/AttachmentNg/58fbaa07-7322-4ddb-aa93-37fe3e7338ed

https://www.globenewswire.com/NewsRoom/AttachmentNg/f7723b30-0ec1-4f7d-bb16-56df03cbd6a5

FAQ

What were the key drilling results from Q2 Metals' (QUEXF) Cisco Lithium Project in June 2025?

Q2 Metals intercepted three significant spodumene pegmatite intervals in hole CS-25-036, with the largest being 151.0 metres, alongside intervals of 64.3m and 52.1m.

Where is Q2 Metals' Cisco Lithium Project located and what infrastructure is available?

The Cisco Project is located in Quebec's Eeyou Istchee James Bay region, with access to the paved Billy Diamond Highway and situated 150km north of the Canadian National Railway in Matagami.

What is the current status of Q2 Metals' property acquisitions at the Cisco Project?

Q2 Metals has secured 100% interest in the Broadback and Ouagama claim groups through completed option payments, while payments for the Cisco claim group are still ongoing.

What is the scope of Q2 Metals' 2025 Summer drilling program?

The program focuses on infill drilling along 1.5 km of mineralized strike length, including metallurgical testing and detailed mapping of the 41,253-hectare project area.

When will Q2 Metals receive the lithium content confirmation from the latest drilling?

Samples from hole CS-25-036 have been sent to SGS Canada's preparation laboratory in Val-d'Or, QC, with assay results pending confirmation of lithium content.