Quebec Precious Metals Cuts 1.83 g/t Au over 58.6 m and 2.15 g/t over 42.2 m Au in Drilling in Near-Surface, High-Grade Intervals, on the Sakami Project

Rhea-AI Summary

Quebec Precious Metals Corporation (CJCFF) reported promising drill results from its 2021 winter program at the Sakami Project in Quebec, involving 7 holes and 2,079 meters of drilling. Notable intersections included 1.83 g/t Au over 58.6 m and 2.15 g/t Au over 42.2 m, indicating high-grade mineralization. The company, which holds a 100% stake in the Project, plans a fully-funded summer program with 12,000 meters of drilling aimed at expanding the mineralized zone. CEO Normand Champigny expressed excitement about the high-grade potential at depth and along strike.

Positive

• High-grade intersections reported, including 1.83 g/t Au over 58.6 m.
• Fully-funded summer drilling program of 12,000 meters to expand mineralized zones.
• Sakami Project has a favorable geological position with good infrastructure.

Negative

• None.

MONTREAL, QC / ACCESSWIRE / June 9, 2021 / Quebec Precious Metals Corporation ("QPM" or the "Company") (TSXV:QPM)(OTCQB:CJCFF)(FSE:YXEP) is pleased to report the drill results from the 2021 winter program (7 holes, 2,079 m) for its 100% owned Sakami Project (the "Project") in Quebec's Eeyou Istchee James Bay territory. The fully-funded summer program has started (see press release of June 1, 2021) and is designed to expand the mineralized zone at La Pointe Extension with 12,000 m of drilling in (40+ holes).

Highlights (Figures 1 to 5, Table 1)

• Two holes (PT-21-177, -182) have intersected mineralization over wide intervals (silicified paragneiss with disseminated pyrite and arsenopyrite),
  - 1.83 g/t Au over 58.6 m including 2.40 g/t Au over 30.9 m; and
  - 2.15 g/t Au over 42.2 m including 5.17 g/t Au over 14.5 m.
• Three holes (PT-21-177, -178, -182) have reported high-grade intervals (> 10 g/t Au over at least 1 m).
• The mineralization continues to extend at depth and along strike as illustrated by the grade x thickness values contours on longitudinal sections (Figures 2, 3 and 4).

The La Pointe Extension deposit, has a strike length of 3,500 m, a minimum depth of 400 m and an average estimated true thickness of 40 m (and up to 101 m), on the basis of the 35 holes drilled to date.

Normand Champigny, CEO of QPM, stated: "The 2021 winter program at the La Pointe Extension generated some of the best drill results on the Sakami Project. We are very excited to drill this summer to confirm the high-grade potential at depth and along strike."

Complete drill results and calculated drill hole composites are available on QPM's website (https://www.qpmcorp.ca/en/projects/sakami-technical-information/ ).

The Project provides the Company with a controlling position over a 23-kilometre-long segment of a favourable geological contact and comprises 281 claims (142 km²). It is located 570 km north of Val d'Or, Quebec, 120 km east of the municipality of Wemindji, 90 km from the Éléonore gold mine and 47 km northeast of the paved James Bay Road. Good infrastructure is present including major access roads, a hydro-powered electric grid and airports. Drilling can be carried out throughout the year.

Quality Assurance/Quality Control

For the Sakami project, the drilling contract was awarded to Forage Val-d'Or Inc. based in Val-d'Or, Quebec. The hole diameter is NQW. Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were inserted regularly into the sample stream. The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.

Qualified Persons

Normand Champigny, Eng., Chief Executive Officer of the Company, and Richard Nieminen,
P. Geo., Senior Exploration Manager, both Qualified Persons under NI 43- 101 on standards of disclosure for mineral projects, have prepared and approved the technical content of this release.

About Quebec Precious Metals Corporation

QPM is a gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. QPM's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM's goal is to rapidly explore the Project to advance it to the mineral resource estimate stage.

For more information, please contact:

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither 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.

Table 1: Sakami Project - Summary of 2021 winter drilling program, significant drill results

Notes:

1. All widths are drill indicated core length.
2. Drilholes are generally planned to intersect mineralization as close to perpendicular to strike as possible.
3. True widths are considered to be almost 100% of the down-hole length when drillhole inclination and dip of the mineralized horizons are considered.
4. All gold values presented are not capped.

Hole #	UTM E	UTM N	Length (m)	Azimuth (°)		Dip (°)	Number of samples		From (m)	To (m)	Interval (m)	Au (g/t)
PT-21-177	373857	5893555	207	145		-50	168		123.80	166.00	42.20	2.15
Including									141.50	156.00	14.50	5.17
PT-21-178	373796	5893459	300	145		-50	230		151.50	190.00	38.50	0.47
PT-21-179	373706	5893400	300	145		-48	228		204.00	208.50	4.50	0.82
PT-21-180	373639	5893331	348	148.6	-46.4			260	29.50	40.00	10.50	0.64
									172.50	174.00	1.50	0.45
PT-21-181	373570	5893043	261	145		-50	203		132.00	149.00	17.00	0.70
PT-21-182	373924	5893841	411	150		-54	351		286.50	345.10	58.60	1.83
Including									308.30	339.20	30.90	2.40
									367.50	371.30	3.80	4.29
PT-21-183	373504	5892965	252	145		-50	196		73.90	84.00	10.10	0.58
									121.00	134.20	13.20	0.51

SOURCE: Quebec Precious Metals Corporation

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FAQ

What were the highlights of Quebec Precious Metals Corporation's latest drilling results for CJCFF?

The highlights included 1.83 g/t Au over 58.6 m and 2.15 g/t Au over 42.2 m.

What is the purpose of the summer drilling program for CJCFF in the Sakami Project?

The summer drilling program aims to expand the mineralized zone with 12,000 meters of drilling.

How many holes were drilled in the winter program for CJCFF's Sakami Project?

A total of 7 holes were drilled during the 2021 winter program.

What is the significance of the mineralized zone's depth in the Sakami Project for CJCFF?

The mineralization continues to extend at depth, indicating potential for high-grade deposits.