Q2 Metals Extends Known Mineralized Zone with 179.2 Metre Intercept of 1.24% Li₂O at the Cisco Lithium Project
Q2 Metals Extends Known Mineralized Zone with 179.2 Metre Intercept of
1.24% Li₂O at the Cisco Lithium Project
Highlights:
• CS25-065: Five (5) separate intervals, including:
◦ 179.2 m at 1.24% Li 2O; and
◦ 15.7 m at 1.48% Li 2O.
◦ Drill hole CS25-065, located north of the known Mineralized Zone and west of the CO1 outcrop, extends the
system to the north at shallow depths where mineralization was not expected.
• CS25-057: Six (6) separate intervals, including:
◦ 49.8 m at 1.41% Li 2O; and
◦ 35.8 m at 1.51% Li 2O.
• To date, a total of 74 drill holes for 31,961 m have been completed at the Cisco Project with assays pending on the
remaining holes drilled during the winter 2025 campaign.
• Drilling has now resumed at the Cisco Project, with a four-rig program primarily focused on continued infill drilling
towards indicated resource definition for inclusion in an inaugural Preliminary Economic Assessment, targeted for late
2026.
VANCOUVER, British Columbia, Jan. 22, 2026 -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) (“Q2” or
the “Company”) is pleased to report analytical results from the 2025 drill program (the “ 2025 Drill Program ”) completed in
December at the Company’s Cisco Lithium Project (the “Project” or the “Cisco Project”), located within the greater Nemaska
traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada.
"We are excited to be back at the Cisco Project after a successful 2025 program during which we completed sufficient drilling
for an inaugural inferred Mineral Resource Estimate that we expect to deliver this first quarter, with timing subject to receipt of
all remaining 2025 assays,” said Alicia Milne, Q2 Metals President and CEO. “The Exploration Target announced in July 2025
defined a potential range of tonnage and grade based on the first 40 holes on the Cisco Project and the next major milestone
will be quantifying an official resource to benchmark the Cisco Project against global peers. We look forward to delivering on
our stated goals in 2026 and continuing to add shareholder value.”
“Drill hole 65 demonstrates the continued growth potential of the Cisco Project. This hole was designed to define the limits of
the system but instead discovered that the trend extends beyond our expectations, ” said Neil McCallum, Q2 Metals Vice
President of Exploration. “With the team now back at the Cisco Project and four drill rigs operating, we are eager to continue
our infill drill program while potentially expanding upon the Mineralized Zone’s known boundaries. Our primary focus this winter
will be to upgrade the pending Inferred mineral resources to the indicated category as the Company works towards an
inaugural Preliminary Economic Assessment for late 2026.”
Photo 1. Cisco Project Winter Start-up Team
During the first half of 2025, two drill rigs were utilized to test the main mineralized zone (“ Mineralized Zone ”) with large step
outs between 200-400 metres (“m”) apart.
The Company published an Exploration Target in July 2025 on the Mineralized Zone which estimated a range of potential
lithium mineralization of 215 to 329 million tonnes at a grade ranging from 1.0 to 1.38% Li 2O, based only on the first 40 holes
drilled. An Exploration Target is used to provide a conceptual estimate of the potential quantity and grade of a mineral deposit,
based on known and additional limited geological evidence. It is an early-stage assessment that will help to guide further
exploration, but it is not a mineral resource or mineral reserve and should not be treated as such.
The latter half of drilling in 2025 prioritized infill-scale drilling utilizing four drill rigs within the Mineralized Zone. The tightened
drill spacing was designed to support the Company’s objective of delivering an initial inferred Mineral Resource Estimate
(“MRE”) on the Cisco Project in the first quarter of 2026.
To date, a total of 74 drill holes for 31,961 m have been completed at the Cisco Project.
The analytical results reported herein represent 5,482.9 m of drilling over 16 drill holes completed during the 2025 Drill
Program. Pegmatite intervals and analytical results are reported as they are received and reviewed.
Figure 1. Map of Recent Drill Holes with Analytical Results at Cisco Project
Figure 2. Cross-Section A
Table 1. Summary of Analytical Results of Drill Holes at Cisco Project
All intervals of greater than 2 m of core-length and greater than 0.30% Li 2O are included in Table 1. Internal dilution of non-
pegmatite material was limited to intervals of less than 3 m. No specific grade cap or lower cut-offs were used during grade
and width calculations. All intervals are reported as core widths and mineralized intervals in all the holes drilled thus far are not
representative of the true width as the modelled pegmatite zones are being refined with every additional hole.
Drill Results Discussion
Noteworthy analytical results reported herein are as follows:
◦ Drill hole-65 extended the boundary of the known Mineralized Zone to the north with a 179.2 m wide mineralized
pegmatite averaging 1.24% Li 2O, which was in an area that was partially mapped within the Exploration Target. It is
located at relatively shallow depths of between 50 and 180 m below surface. Additional work will be undertaken to
understand the extent of mineralization in that area.
◦ Drill hole-57 at the southern end of the Mineralized Zone encountered a 49.8 m wide interval of mineralized pegmatite
averaging 1.41% Li2O and is consistent with other drilling in the area.
◦ Exploration hole-52, located between the CO2 outcrop and the Mineralized Zone encountered an 18.1 m wide zone of
mineralization averaging 0.68% Li2O at a vertical depth of about 100 m.
◦ Several vertically oriented HQ-diameter hydrogeological holes were completed at shallow depths of between 100 and
252 m, and many confirmed near-surface mineralized pegmatites such as drill hole-55 with a 39.3 m wide interval of
mineralized pegmatite averaging 1.13% Li2O and drill hole-56 with a 31 m wide interval averaging 1.51% Li 2O and 48.9
m wide interval averaging 1.44% Li2O.
Geological crews have mobilized to site and drilling has commenced with a primary focus on continued infill drilling for
inclusion into an inaugural Preliminary Economic Assessment which is being targeted for late 2026. Exploration drilling may
also be incorporated to test areas surrounding the Mineralized Zone.
Drill Hole Collar Information
The summary of drill holes including basic location and dip/azimuth is detailed below (Table 2).
Table 2. Summary of Drill Hole Collar Information, Cisco Project
Stock Option and Award Grant
Pursuant to the Company’s Equity Incentive Plan and subject to the acceptance by the TSX Venture Exchange, the Company
has granted 850,000 stock options to directors, officers, and consultants of the Company to purchase an aggregate of 850,000
common shares in the capital of the Company at an exercise price of $2.11 per share until January 22, 2031.
Q2’s Equity Incentive Plan’s objective is to promote the long-term success of the Company and the creation of shareholder
value by aligning the interests of eligible persons under the plan with the interests of the Company. As such, the Company has
also granted an aggregate of 976,303 performance share units (each, a "PSU"), 132,701 restricted share units (each, a “RSU”)
and 379,147 deferred share units (each, a “DSU”) to certain directors, executive officers and consultants of the Company. The
PSUs vest on the later of (a) one year after their date of grant and (b) the successful completion of specific key performance
objectives that are assigned to each PSU. Any PSUs that have not vested on or before January 22, 2029 will expire. The
RSUs shall vest in three equal tranches, with one-third vesting on each of the first, second, and third anniversaries of the date
of grant and the DSUs vest one year after their date of grant and do not settle until a director ceases to serve as a director of
the Company.
Once vested, each PSU, RSU and DSU will entitle the holder thereof to receive either one common share of the Company or
the cash equivalent of one common share, as determined by the board of directors of the Company, net of applicable
withholdings.
Upcoming Events
Members of the Q2 team will be in Vancouver, BC attending the Vancouver Resource Investment Conference (“ VRIC”) and
AME RoundUp.
The Company will also be attending the following events:
Prospectors & Developers Association Convention Toronto, ON March 1-4, 2026
Investors Exchange - Booth 2726
Quebec Day – Presenter
121 Mining Event Hong Kong March 11-12, 2026
Sampling, Analytical Methods and QA/QC Protocols
All drilling was conducted using 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 was 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.
Qualified Person
Neil McCallum, B.Sc., P.Geol, is a Qualified Person as defined by NI 43-101, and a registered permit holder with the Ordre
des Géologues du Québec and member in good standing with the Professional Geoscientists of Ontario. Mr. McCallum has
reviewed and approved the technical information in this news release. Mr. McCallum is a director and the Vice President
Exploration for Q2.
ABOUT Q2 METALS CORP.
Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project which is located within the
greater Nemaska traditional territory of the Eeyou Istchee, James Bay region of Quebec, Canada. The known mineralized zone
at Cisco is just 6.5 km from the Billy Diamond Highway, which leads to the railhead in the Town of Matagami, approximately
150 km to the south.
The Cisco Project has district-scale potential with an initial Exploration Target estimating a range of potential lithium
mineralization of 215 to 329 million tonnes at a grade ranging from 1.0 to 1.38% Li2O, based only on the first 40 holes drilled. It
is noted that the potential quantity and grade of the Exploration Target are conceptual in nature and there has been insufficient
exploration to estimate and define a Mineral Resource, as defined by NI 43-101. It is uncertain if further exploration will result
in the target being delineated as a Mineral Resource.
The 2026 Exploration Program is ongoing, primarily focused on continued infill drilling towards indicated resource definition for
inclusion in an inaugural Preliminary Economic Assessment, targeted for late 2026. Expansion and exploration drilling
continues at the main zone, which remains open at depth and along strike, as well as at high potential targets identified
across the broader 41,253 hectare project area.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne Jason McBride Chris Ackerman
President & CEO Investor Relations Manager Corporate Development
[email protected] [email protected] [email protected]
Telephone: 1 (800) 482-7560
E-mail: [email protected]
www.Q2Metals.com
Social Media:
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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, drilling results on the Cisco Project and inferences made
therefrom, the conceptual nature 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.
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