Q2 METALS CORP - QUEXF STOCK NEWS

Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF) has issued a clarification regarding its technical disclosure for the Cisco Property drilling results. The company has removed previously reported cumulative grades over 'cumulative intervals' and 'cumulative metres' from all news releases. Key highlights from the inaugural drilling campaign include:

- CS-24-010: 120.3 m at 1.72% Li₂O (including 19.0 m at 2.06%)
- CS-24-007: 27.1 m at 1.96% Li₂O (including 11.1 m at 2.49%)
- CS-24-008: 19.3 m at 1.75% Li₂O (including 6.2 m at 2.23%)
- CS-24-009: 82.1 m at 1.43% Li₂O (including 15.7 m at 1.88%)

These results represent 1,017 m of drilling over four holes out of a total 3,753 m drilled in 12 holes. The Spring 2024 Drill Campaign expanded on previous drilling, with holes CS-24-009 and 010 designed as 50 m westward step-outs from a previous hole. Drilling is ongoing and will continue into fall 2024.

Q2 Metals Corp. (TSX.V:QTWO, OTCQB:QUEXF) has reported strong initial drill results from its Spring 2024 campaign at the Cisco Lithium Property in Quebec, Canada. Highlights include:

- CS-24-010: 120.3 m at 1.72% Li2O, including 19.0 m at 2.06% Li2O
- CS-24-007: 94.6 m at 1.52% Li2O, including 27.1 m at 1.96% Li2O
- CS-24-008: 27.0 m at 1.63% Li2O, including 19.3 m at 1.75% Li2O
- CS-24-009: 115.9 m at 1.48% Li2O, including 82.1 m at 1.43% Li2O

These results represent the first 1,017 m of a 3,753 m drilling program. The company plans to continue drilling into fall 2024, with results from an additional 2,700 m pending.

Q2 Metals Corp. (TSX.V:QTWO)(OTCQB:QUEXF) has reported significant progress in its 2024 exploration program at the Cisco Lithium Property in Quebec, Canada. The company has completed four additional drill holes, totaling approximately 1,520.6 meters. Notably, drill hole CS24-018 encountered a continuous spodumene-pegmatite interval of 215.6 meters, the longest interval announced by the company to date. The drilling campaign has defined a total strike length of 750 meters of spodumene-mineralized pegmatite, which remains open in all directions.

Ground mapping and sampling have also confirmed the discovery of eight additional spodumene-mineralized outcrop zones at surface, expanding the area of interest to 1.9 by 1.5 kilometers. The company is well-funded following a recent financing of $6.88 million and plans to continue its exploration efforts, focusing on connecting wide pegmatite zones and systematically drilling the large surface mineralized area.

Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF) has closed the second and final tranche of its non-brokered private placement, raising $4,348,480. Combined with the first tranche, the total gross proceeds amount to $6,880,369. The company issued 8,506,315 charity flow-through units at $0.475 per unit, 1,200,000 non-flow-through units at $0.25 per unit, and 22,800 flow-through units at $0.35 per unit.

The proceeds will be used for Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures on Q2's lithium projects in Quebec. The securities are subject to a hold period expiring on December 10, 2024. Finders' fees of $62,250 and 249,000 broker warrants were paid in connection with the second tranche.

Q2 Metals Corp. (TSXV:QTWO)(OTCQB:QUEXF) has closed the first tranche of its non-brokered private placement, raising $2.53 million. The company issued:

1. 1,142,857 flow-through units at $0.35 per unit, totaling $400,000.
2. 8,519,998 non-flow-through units at $0.25 per unit, totaling $2,130,000.

Proceeds will fund Canadian exploration expenses on Q2's lithium projects in Quebec and general working capital. The securities have a hold period until December 1, 2024. A second tranche of charity flow-through units is expected to close around August 8, 2024. The offering is subject to TSXV acceptance.

Q2 Metals Corp. (TSXV:QTWO, OTCQB:QUEXF, FSE:458) announced an update to its non-brokered private placement offering. The charity flow-through unit price has increased from $0.4625 to $0.475 per unit, allowing for gross proceeds of up to $5,000,000 from these specific units. The total offering could now raise up to $7,505,000. The closing is expected around July 31, 2024, subject to customary conditions and TSX Venture Exchange acceptance. All issued securities will have a hold period of four months and one day. Q2 Metals focuses on lithium projects in Quebec, including the Mia and Cisco Lithium Properties.

Q2 Metals has announced a non-brokered private placement to raise up to $7.5 million. The offering includes 10,800,000 Charity Units at $0.4625 per unit for gross proceeds of $4,995,000, 1,000,000 FT Units at $0.35 per unit for $350,000, and 8,620,000 NFT Units at $0.25 per unit for $2,155,000. Each unit includes one share and half a warrant, with warrants exercisable at $0.50 per share for two years.

The proceeds from Charity Units and FT Units will be used for Canadian exploration expenses on the company's lithium projects in Quebec, while NFT Unit proceeds will be used for general working capital. The offering is expected to close by July 31, 2024, pending TSX Venture Exchange approval.

Q2 Metals Corp. has announced the discovery of eight new spodumene-bearing pegmatite zones at its Cisco Lithium Property in James Bay, Quebec, bringing the total number of confirmed mineralized zones to 15. The discoveries were made during the 2024 mapping and sampling program, with 41 samples from the CO1 to CO15 outcrop groups showing lithium oxide (Li2O) grades up to 4.31%, averaging 1.80% Li2O.

The company has collected and assayed a total of 76 pegmatite samples, confirming lithium presence in all 15 zones. These results provide Q2 Metals with confidence to expand drilling efforts, particularly to the south of the CO3 outcrop zone. Initial drilling results, including from holes CS24-011 to CS24-014, indicate continued mineralization between CO1 and CO3. Further drilling is planned to test the subsurface extent of these zones. Ongoing work will focus on understanding the surface expression and potential of newly discovered areas.

The company’s priority area of interest now spans 1.1 by 3.5 km, following the discovery of additional lithium-enriched boulders and outcrops.

Q2 Metals recently announced significant progress in their Spring 2024 drill campaign at the Cisco Lithium Property in James Bay, Quebec. The company drilled four additional holes (CS24-011 to CS24-014) totaling 1,215 meters, expanding the mineralized zone to 750 meters southwest to the CO3 Zone. Highlights include drill hole CS24-014 encountering thirteen spodumene pegmatite intervals with a cumulative width of 131.6 meters. The ongoing drill program aims to further define the scale and potential of the Cisco deposit.