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
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
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 – 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.”
TSX-V: QTWO
OTCQB: QUEXF
FSE: 458
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 17th Lithium Supply and Battery Raw Materials Conference
Q2 will be attending the Fastmarkets 17th 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
[email protected] [email protected] [email protected]
Telephone: 1 (800) 482-7560
E-mail: [email protected]
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.